Speaking at an investor conference, Twitter CEO Elon Musk said that the company makes only around 5 or 6 cents per hour of attention from users, but could increase that to 15 cents or more with more relevant and timely advertisements.
Musk expressed surprise at how poorly Twitter had managed to make money off the service.
Since Musk’s acquisition of Twitter for $44 billion in October, the platform has been characterized by chaos and uncertainty.
On Monday, Twitter experienced its sixth major outage of the year, preventing thousands of users from accessing links.
Some advertisers have left Twitter due to uncertainty over how Musk, who has called himself a “free speech absolutist,” would approach content moderation.
Ad spending by Twitter’s top 30 advertisers fell 42% in November and December combined, according to estimates from Pathmatics by Sensor Tower.