The road ahead is arduous and will require intense work to succeed. This is the Spaces discussion that Robin, Yoel and I hosted today: Of course, we will still then be significantly reliant on advertising, so I am spending time with our sales & partnerships teams to ensure that Twitter continues to be appealing to advertisers. We need roughly half of our revenue to be subscription. Without significant subscription revenue, there is a good chance Twitter will not survive the upcoming economic downturn. That is why the priority over the past ten days has been to develop and launch Twitter Blue Verified subscriptions (huge props to the team!). Moreover, 70% of our advertising is brand, rather than specific performance, which makes us doubly vulnerable! Sorry that this is my first email to the whole company, but there is no way to sugarcoat the message.įrankly, the economic picture ahead is dire, especially for a company like ours that is so dependent on advertising in a challenging economic climate. Read the full email that Musk sent to employees: Bloomberg earlier reported on the letter.
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