US ad revenue at Musk’s X declined each month since takeover -data::Monthly U.S. ad revenue at social media platform X has declined at least 55% year-over-year each month since billionaire Elon Musk bought the company formerly known as Twitter in October 2022, according to third-party data provided to Reuters.
This is the best summary I could come up with:
Oct 4 (Reuters) - Monthly U.S. ad revenue at social media platform X has declined at least 55% year-over-year each month since billionaire Elon Musk bought the company formerly known as Twitter in October 2022, according to third-party data provided to Reuters.
The company has struggled to retain some advertisers since the takeover, as brands have been wary of rapid changes under Musk’s ownership.
Musk has previously acknowledged that the platform has taken a hit on revenue and has blamed activists for pressuring advertisers.
Last month, he accused the Anti-Defamation League of being the primary cause behind a 60% decline in U.S. ad revenue, though he did not provide a time frame.
The organization added it was prepared to begin advertising itself on the platform “to bring our important message on fighting hate to X and its users.”
This includes building peer-to-peer payment features and increasing the amount of video content on the platform, Reuters previously reported.
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