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Musk says Twitter Lost Half of its Advertising Revenue

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Twitter has lost roughly half of its advertising revenue, according to owner Elon Musk, since he bought the social media platform for $44 billion last October.

Musk, who has been outspoken about the difficulties facing the company, broke the figures in a tweet response to a user who was giving suggestions on financing for the platform.

“We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load,” the billionaire tweeted Saturday.

“Need to reach positive cash flow before we have the luxury of anything else,” he added, without further elaboration.

Insider Intelligence has reported that Twitter was set to earn less than $3 billion in revenue in 2023, down one-third from 2022.

Changes instituted by Musk since his takeover of Twitter have turned off users and advertisers alike.

Earlier this month, Musk announced that Twitter was limiting verified accounts to reading 10,000 tweets a day, in a bid “to address extreme levels of data scraping” and “system manipulation” by third-party platforms.

Non-verified users — the free accounts that make up the majority of users — are limited to reading 1,000 tweets per day, while new unverified accounts are limited to 500 tweets.

Twitter has also said TweetDeck, a popular program that allows users to monitor several accounts at once, will only be available to verified users from next month.

The changes came as Threads, an app launched by Facebook parent Meta as a rival to Twitter, registered more than 100 million users in its first five days.

Earlier this year, the artificial intelligence app ChatGPT, created by OpenAI, took two months to reach the same number of active users.

According to some estimates, Threads has now reached 150 million users, with India leading the way, boosted by its link to Instagram which gives it a built-in audience of more than two billion users and spares the platform the challenge of starting from scratch.

Twitter is thought to have around 200 million regular users but it has suffered repeated technical failures since Musk bought the platform and sacked thousands of staff.

Many have expressed privacy concerns over Meta CEO Mark Zuckerberg’s new platform, which asks users to give Meta permission to track them closely across the internet.

Those demands have delayed the launch of Threads in Europe, where new legislation limits the ability of Meta to track and share data across its family of platforms.

Its business model revolves around sucking up personal data to use for targeted ads and Threads accounts are linked to Instagram accounts.

But few expect Threads to maintain its embargo in Europe indefinitely.

European law expert Alexandre de Streel said big tech firms would probably be hammering out compliance issues with the EU over the coming months.

“I think it’s more a question of time to understand the scope of the legislation and have a dialogue with the commission,” he said.

Musk has also threatened to sue Meta for stealing trade secrets and intellectual property, claims denied by the company.

In a letter to Zuckerberg, published by the online news outlet Semafor this week, Musk’s lawyer also accused the company of recruiting dozens of former Twitter employees who “had and continue to have access to Twitter’s trade secrets and other highly confidential information.”

The two men have been bickering for years, but things have become heated since it became clear Meta intended to compete with Twitter.

AFP


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NCC Orders Telcos Inform Subscribers of Data Breach within 48 Hours

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Nigerian Communications Commission (NCC) has directed telecom operators in the country to notify affected customers of any data breach within 48 hours ( that is two day) of detecting such unauthorised infringement.

NCC Orders Telcos Inform Subscribers of Data Breach within 48 Hours

This directive was  contained in the revised Internet Code of Practice 2026 by the NCC, on Friday.

The document seeks to define the rights and obligations of telecom operators in handing the rights of internet users to an open internet.

In the move to protect customer information, Mobile Network Operators (MNOs) and Internet Service Providers (ISPs) are to take necessary measures to protect customers’ data from unauthorised use, disclosure, access or breach.

Telecom operators must now notify affected customers within 48 hours of detecting a compromise through text message, email or any other effective means. As contained in Chapter 3.4 of the regulation titled “Data Breach Notifications,”

The telecoms companies are also directed to notify the NCC of such a breach not later than 48 hours after determining such a breach.

Where full details of the breach are not immediately available, the provider shall issue a preliminary notification within the same period and furnish a comprehensive update within Fourteen (14) days thereafter, or within such extended period as the Commission may approve,” part of the section reads.

The guidelines, according to NCC, are in tandem with the provisions contained in the Nigerian Data Protection Act 2023 and Part VI of Schedule 1 of the Consumer Code of Practice Regulations 2024.

The regulation also joins other agencies’ policies, ensuring protection. Agencies such as the Nigeria Data Protection Commission (NDPC) and the Federal Competition and Consumer Protection Commission (FCCPC) protect consumers against misuse of personal data, identity theft, financial loss, and reputation damage.

The review comes at a time when privacy becomes core amid frequent breaches and illegal harvest of data such as biometric, national IDs, financial information, traffic and usage, and others.

Regulations are necessary for the proper handling, consent, and regulatory compliance regarding sensitive data, ensuring it is only processed for legitimate purposes.

Under Chapter 3.5, the Internet Code of Practice 2026 addressed the handling of harvesting of transactional data by notifying and getting approval from the NCC of any usage by a third party. It noted that the NCC approval will be defined by a review and assessment of such access and “its potential effects on national considerations, consumer information and personal data.”


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Globacom Promotes Valentine Gifting with Huge Discounts on Smartphones

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Globacom has announced a Valentine Smartphone promotion, which provides incredible savings on a variety of high-end smartphones from top manufacturers including Tecno, Samsung, and Infinix.

Starting on February 9, the promotion provides substantial price reductions on a number of Samsung models, including the Galaxy Z Fold 7, Galaxy A07, Galaxy A56 5G, Galaxy A36 5G, and Galaxy A26 5G. Customers who buy any of the phones will also receive a complimentary travel pouch and charger, as well as up to 18GB of extra data for six months, only available on the Glo network.

Along with other Infinix models, Tecno devices are also offered at attractive discounts, giving customers a large range of smartphones to fit a variety of tastes and price ranges.

The goal of the Glo Valentine promotion is to provide customers with the best possible deals on carefully chosen smartphones that are renowned for their cutting-edge technology, stylish designs, and dependable performance. The offer, which includes alternatives to suit a range of budgets and lifestyles, reaffirms Globacom’s dedication to customer happiness, digital adoption, greater data usage, and client centricity.

The company revealed that the promotion aligned with customers’ expectations during celebratory seasons, when demand is highest for quality smartphones at affordable prices. The company added that its partnership with trusted global and regional brands such as Samsung, Infinix, and Tecno ensures that customers enjoy premium features without compromising on value.

“The Valentine season is about connection, and what better way to stay connected than with a smartphone that fits your needs and aspirations,” the company stated. “This promo gives our customers the chance to get their dream smartphones at some of the best prices of the year, along with generous data bonuses to keep them connected,” the company disclosed.

Customers are encouraged to visit Gloworld outlets nationwide to take advantage of the Valentine Smartphone Promo while stocks last.

 


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GBB Expands Broadband to 13 Underserved Communities In 2025

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Galaxy Backbone Limited (GBB) has recorded a significant milestone in Nigeria’s digital transformation journey by advancing broadband connectivity to 13 underserved institutions and communities nationwide in 2025, reinforcing its position as the nation’s digital backbone and a trusted partner in national development.

Guided by its mandate to enable a digitally inclusive Nigeria, GBB deliberately extended connectivity to locations within reach of its infrastructure footprint, particularly institutions with strong potential for productive use but limited readiness for immediate commercial engagement. Through this effort, the organisation continues to unlock opportunity, stimulate innovation, and support sustainable growth across critical sectors of the economy.

The expansion reached three Federal Universities, two Local Government Areas, and eight Federal Secretariats, strengthening digital capabilities in education and public administration while enhancing service delivery across the country.

GBB also extended reliable broadband connectivity to strategic and cultural landmarks such as the Nnamdi Azikiwe International Airport, Abuja, underscoring its commitment to supporting national infrastructure that drives economic activity, mobility, and global connectivity.

These deployments highlight Galaxy Backbone’s resolve to bridge the digital divide and empower institutions that shape Nigeria’s future. They demonstrate the measurable national impact of GBB’s infrastructure investments and reflect the tangible progress of the Integrated Digital Transformation Strategy (IDTS), further solidifying the organisation’s role as the platform upon which government institutions and communities can confidently build their digital future.

More importantly, the milestone illustrates that GBB’s work extends beyond technology by enabling education, improving governance, supporting economic participation, and connecting citizens to opportunity.

The initiative aligns with the Federal Government’s broadband penetration objectives and complements national programmes such as Project 774 – Universities’ Hostel Connectivity, ensuring coordinated, scalable, and sustainable impact across the country. Commenting on the achievement, Galaxy Backbone noted that every new connection brings Nigeria closer to a more inclusive digital economy while reinforcing the infrastructure required for innovation and national competitiveness.

As implementation continues, GBB remains committed to expanding access, pushing boundaries, and delivering on the promise of a fully digital nation, with further updates expected as additional phases of the deployment progress.

Galaxy Backbone Limited is the Federal Government’s digital infrastructure and shared services provider, dedicated to delivering secure, reliable, and scalable ICT solutions that support efficient governance, innovation, and sustainable national development.

 


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