The New York times calculated that Twitter’s U.S. ad sales plunged 59%. This is in line with Elon's projection of $3B revenue for 2023, which would mean -41% vs. 2021.
The new CEO is Linda Yaccarino— she's great with advertisers, so she will probably succeed in bringing back some advertisers, but subscription revenue will still disappoint.
No consumer social app has succeeded with subscription revenue. All the top players, such as Meta and TikTok, have 90%+ of their revenue coming from ads. Consumers don't want to pay, and the companies can get a higher ARPU from advertising.
But if anyone can do it... maybe Elon can?