The fact of the matter is that the coronavirus pandemic has lead to a lot of changes occurring for a lot of people as well as a wide variety of businesses that are struggling to tackle with what such a global event means for them and how it would end up impacting the way they do things in a really big way. However, not all businesses are struggling.
The social media industry is thriving for example, and a big part of the reason why that is the case has to do with the fact that people are stuck at home without all that much that they can do and as a result they are cooped up at home they are more likely to use social networks as much as they possibly can.
The latest example of the growth that we are seeing in this field is with Twitter, whose total number of monetizable daily active users (mDAU) has gone all the way up to 166 million which is nearly 32 million more than what they had last year and a good 12 million more than they had in the previous quarter. This is a pretty big growth and it means that more people are using Twitter than ever before, but the fact of the matter is that Twitter earns most of its money from ads and this is something that is posing to be quite the problem due to the reason that ad buying has gone down.
"Revenue was $808 million in Q1, up 3% year over year, reflecting a strong start to the quarter that was impacted by widespread economic disruption related to COVID-19 in March.", announced Twitter in its Letter to Shareholders report.
Hence, Twitter has posted a relatively small loss 7 million dollars, and while this is a pretty small number in the grand scheme of things it is definitely a lot less than what they received this time last year when they had a lot of profit that they were using up.
Read next: Facebook's Q1 Report Shows Growth in Revenue as User Numbers Approach 3 Billion
The social media industry is thriving for example, and a big part of the reason why that is the case has to do with the fact that people are stuck at home without all that much that they can do and as a result they are cooped up at home they are more likely to use social networks as much as they possibly can.
The latest example of the growth that we are seeing in this field is with Twitter, whose total number of monetizable daily active users (mDAU) has gone all the way up to 166 million which is nearly 32 million more than what they had last year and a good 12 million more than they had in the previous quarter. This is a pretty big growth and it means that more people are using Twitter than ever before, but the fact of the matter is that Twitter earns most of its money from ads and this is something that is posing to be quite the problem due to the reason that ad buying has gone down.
"Revenue was $808 million in Q1, up 3% year over year, reflecting a strong start to the quarter that was impacted by widespread economic disruption related to COVID-19 in March.", announced Twitter in its Letter to Shareholders report.
Hence, Twitter has posted a relatively small loss 7 million dollars, and while this is a pretty small number in the grand scheme of things it is definitely a lot less than what they received this time last year when they had a lot of profit that they were using up.
Read next: Facebook's Q1 Report Shows Growth in Revenue as User Numbers Approach 3 Billion
