Twitter has seen an 89% dip in advertising revenue in the last two months, following billionaire Elon Musk's takeover of the social media platform in October last year, according to research by Sensor Tower. The top 10 advertisers on Twitter spent just $7.6m on ads, a fall of $71m (89%), between September and October 2022. Although Twitter has seen a slight uptick in the number of daily users, advertisers have yet to return to the site, possibly due to Musk’s 75% job cuts and the resulting chaos on the platform-induced changes. Among the early casualties of Musk's takeover were major brands, such as Coca-Cola, Ford, HBO, and Amazon, which all pulled their ads from Twitter. While some reports suggest that the number of brands spending on the platform has risen in recent months, several media agencies, such as IPG and Horizon Media, are still advising clients to proceed with caution due to the company's turbulent state.