Elon Musk’s X/Twitter continues to wrestl with substantial ad revenue losses and now adds user confusion to the mix thanks to a significant platform change that erases headlines and context from links in tweets.
MarketWatch reports Elon Musk’s X, previously known as Twitter, has unveiled a new look, removing article headlines when they are linked in tweets. The confusing change coincides intriguingly with reports of a continued stark decline in the comapny’s advertising revenue. The platform, since its acquisition by the tech billionaire, has suffered persistent and significant dips in its monthly revenue from ads.
Woke Twitter CEO Linda Yaccarino (Santiago Felipe/Getty)
Elon Musk’s account on X/Twitter (CHRIS DELMAS/Getty)
The overhaul of how links display in tweets, unfolded on Wednesday evening in the platform’s mobile app. The change strips article links of their headlines, presenting users with merely a clickable image featuring the domain name of the link in small type. This alteration, while aimed at enhancing the platform’s aesthetics according to Musk, has been met with a palpable confusion among its user base. The absence of headlines, a crucial context provider for shared articles, has left many users navigating through a sea of ambiguous blurbs and images, detracting from the user-friendly experience that social media platforms conventionally strive to offer. Some have speculated that Musk’s change is designed to cause users to click less links, which means they will remain on the Twitter platform instead of leaving it to read a news story.
Musk, who has been vocal about his intentions and changes on the platform since acquiring it for a staggering $44 billion last year, has been steering X/Twitter towards a distinct path, one that seemingly downplays news content. He has been an advocate for users to pen lengthier posts to foster engagement, a move that aligns with his broader vision but has been met with mixed reviews from the platform’s diverse user demographic.
On the financial front, the platform has been grappling with a concerning trajectory in its advertising revenue. According to Reuters, third-party data has illuminated a stark reality for X/Twitter, revealing a year-over-year monthly ad revenue decline of at least 55 percent in every month since Musk’s takeover last October. Particularly, ad revenue in August plummeted by 60 percent year over year, painting a grim financial picture for the platform.
X/Twitter CEO Linda Yaccarino, has been actively engaged in damage control and forward planning. She is expected to convene with bank lenders, who played a pivotal role in financing Musk’s acquisition, to apprise them of the company’s future strategies and plans. Yaccarino expressed a cautiously optimistic outlook at a tech conference, claiming that 90 percent of X’s top 100 advertisers had recommenced placing ads and ventured that the company could pivot towards profitability next year.
Read more at Marketwatch here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.