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brooklynite

(93,271 posts)
Fri Nov 24, 2023, 06:32 PM Nov 2023

X May Lose Up to $75 Million in Revenue as More Advertisers Pull Out [View all]

Source: New York Times

X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month.

Internal documents viewed by The New York Times this week show that the company is in a more difficult position than previously known and that concerns about Mr. Musk and the platform have spread far beyond companies including IBM, Apple and Disney, which paused their advertising campaigns on X last week. The documents list more than 200 ad units of companies from the likes of Airbnb, Amazon, Coca-Cola and Microsoft, many of which have halted or are considering pausing their ads on the social network.

The documents come from X’s sales team and are meant to track the impact of all the advertising lapses this month, including those by companies that have already paused and others that may be at risk of doing so. They list how much ad revenue X employees fear the company could lose through the end of the year if advertisers do not return.

On Friday, X said in a statement that $11 million in revenue was at risk and that the exact figure fluctuated as some advertisers returned to the platform and others increased spending. The company said the numbers viewed by The Times were either outdated or represented an internal exercise to evaluate total risk.


Read more: https://www.nytimes.com/2023/11/24/business/x-elon-musk-advertisers.html?smid=threads-nytimes



Advertising Trump Bucks?
46 replies = new reply since forum marked as read
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Xcrement bucolic_frolic Nov 2023 #1
He's Taking "X"... GB_RN Nov 2023 #25
Right. With his poor judgment and how he's devalued Xitter, how in the world has he been successful with other ventures? brush Nov 2023 #31
he bought it for his buddy trump to spew his lies , now he reaps the wirlwind. AllaN01Bear Nov 2023 #33
75 million means nothing to the sociopath in chief of elleng Nov 2023 #2
Eloon seems to have a beer holder on payroll Kennah Nov 2023 #10
Then why doesn't he go advertiser-free? 340ing Nov 2023 #20
X-Actly... reACTIONary Nov 2023 #28
I'm really hoping to see Elmo fail miserably with Twitter. CaptainTruth Nov 2023 #3
Exactly ... if he tried to sell it right now, there'd be no takers FakeNoose Nov 2023 #5
I don't know...it might not be hard to turn it back around, and spooky3 Nov 2023 #27
True Roy Rolling Nov 2023 #36
Yes, he'll ride that horse until it drops dead. ShazzieB Nov 2023 #16
One difference... reACTIONary Nov 2023 #29
Yes, that's such a comforting fact! ShazzieB Nov 2023 #40
When you're a fascist cesspool... dlk Nov 2023 #4
Donald Trump is way beyond a ..."fascist cesspool." Stuart G Nov 2023 #6
Sometimes there are no words... dlk Nov 2023 #15
Gee, that's too bad. Talitha Nov 2023 #7
*Insert Jerry Seinfeld "That's a shame" gif* ShazzieB Nov 2023 #17
This makes me smile LetMyPeopleVote Nov 2023 #8
Any odds on X lasting long enough for news reports to no longer refer to it as "formally Twitter"? . . . Journeyman Nov 2023 #9
Maybe someday, just "formerly". reACTIONary Nov 2023 #30
Yes a la TAFKAP sdfernando Nov 2023 #34
And yet. And yet politicians of all stripes and many DUers still just post xshitters. erronis Nov 2023 #11
X has more traffic than Facebook & Instagram womanofthehills Nov 2023 #21
It's really a ****hole platform now. ificandream Nov 2023 #12
It's about to get interesting with X AI Groc womanofthehills Nov 2023 #45
The extent of its importance has been downplayed by some, amcgrath Nov 2023 #13
Of course they will ? Loss money & he's a government mooch !! noclue023 Nov 2023 #18
The "kingdom" had shares in Twitter for over 10 yrs womanofthehills Nov 2023 #23
That's okay Yo_Mama_Been_Loggin Nov 2023 #14
He's gonna visit Israel soon (pretending he's not antisemitic) 340ing Nov 2023 #19
"Pause" Means ... BlueNIndiana Nov 2023 #22
Exactly. Its like putting a naughty kid in a time-out. IcyPeas Nov 2023 #42
Just a thought... Jean Genie Nov 2023 #24
Lawsuit against Media Matters could Xitter into 'rapid unscheduled disassembly' struggle4progress Nov 2023 #26
Sure, blame the algorithm, Elon. ificandream Nov 2023 #43
Right wingers lose all their lawsuits 340ing Nov 2023 #44
When Biden pulls out of "X" and says it is "antisemitic" that is the end of "X" and " Eloon Musk." Stuart G Nov 2023 #32
Biden is not going to pull out of Twitter womanofthehills Nov 2023 #46
When i stop hearing and seeing people post/quote the site quakerboy Nov 2023 #35
+ struggle4progress Nov 2023 #37
One cannot spell "toXic" without X. n/t xocetaceans Nov 2023 #38
I'm wondering if Musk is deliberately trying to kill Facebook as you don't do things like change a cstanleytech Nov 2023 #39
Good! Fuck Elon and fuck his white supremacist fans! Initech Nov 2023 #41
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