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Twitter’s global ad revenues will reach $4.67 billion this year, up 4.9% from 2021. This projection is a downgrade of nearly $1 billion from our March forecast, as social media ad revenues have taken a hit across the board.

Beyond the chart: Before closing the Twitter deal last week, Elon Musk put out a message to advertisers, committing to make the app “the most respected ad platform in the world.”

But 12 hours after he finalized the deal, use of the N-word on Twitter increased by about 500%, according to the Network Contagion Research Institute. That apparent loosening of content moderation rules, along with Musk’s focus on subscription revenues, puts the ad business on shaky ground.

More like this:

• Report: The Future of Meta
• Article: Meta’s latest tool helps marketers streamline, combine, and optimize campaigns
• Article: TikTok tries to help usher in an age of machine learning advertising

Read yesterday’s Chart of the Day here.