X’s Ad Revenue Falls Even More

Musk and X aren’t the best pair, as both are causing harm to each other. One is damaging the other’s reputation, and in terms of the monetary aspect, it isn’t the most fruitful partnership.

As of now, the US market is witnessing a massive decline in terms of X’s (Twitter’s) ad revenue, and the statistics aren’t very comforting.

Since Elon Musk’s acquisition of the company formerly known as Twitter in October 2022, social media platform X has consistently experienced a monthly decline in ad revenue of over 55%, according to third-party data shared with Reuters.

Brands are losing faith in the platform due to the new management implementing numerous rapid changes.

Linda Yaccarino, the CEO of X, is scheduled to meet with bank lenders who assisted in financing Elon Musk’s acquisition of the company. They will discuss the company’s future business strategies, as reported by an insider.

In December 2022, U.S. ad revenue for social media platform X experienced a substantial decline of 78% compared to the same month the previous year, marking the most significant monthly drop since Elon Musk’s acquisition.

This data comes from Guideline, an ad analytics firm that monitors advertising spending data from major ad agencies. The latest available data from August showed a year-over-year decline of 60% in ad revenue. X has chosen not to comment on this data.

In a recent interview at Vox Media’s Code conference, Yaccarino mentioned that within the last 12 weeks, 1,500 brands have re-engaged with the platform, and an impressive 90% of the top 100 advertisers have also returned to X. She further expressed optimism, stating that X could potentially achieve profitability as early as next year.

So, on paper, the situation might improve in the upcoming months, but as of now, the numbers and the overall experience are at an all-time low.