Twitter’s advertising recovery is proceeding more slowly than anticipated, according to data from Sensor Tower and Insider Intelligence, leading to a 20% drop in ad revenue for the top 50 advertisers which collectively spent $83m in the past two months compared to $102m in the same period last year. Insider Intelligence has felt obliged to reduce its forecast for Twitter’s global ad revenue from $4.14bn in 2022 to $2.98bn this year, representing a 28% reduction. Companies including Mondelez International, Coca-Cola and Unilever have dropped out of the top 10 advertisers on Twitter, while brands including Mars have not returned to the platform, citing concerns over the placement of their ads.