Social network X (formerly Twitter) could generate around $2.5 billion in ad revenue by the end of 2023; This is significantly less than the same period the previous year. This was reported by Bloomberg With reference to sources.
The material shows that the platform earned four billion dollars from advertising in 2022. However, this year the social network’s revenue from relevant contracts will decrease by more than a third, according to the publication.
“X generated just over $600 million in advertising revenue in each of the three quarters this year; Similar figures are expected for the current period. <…> For comparison, in 2022 [компания получала] more than a billion dollars a quarter,” explains the publication.
According to the agency, advertising is the platform’s main source of income. The article states that placing such ads brings him 70-75% of his total earnings.
The New York Times at the end of November published Material talking about the risk of social network X losing up to $75 million due to platform owner Elon Musk’s remarks about Jews. Some advertisers have refused to renew their contracts, journalists reported, citing an internal document. This was because the billionaire claimed that Jewish communities contributed to the spread of hatred against whites.
Former Paris Mayor Anne Hidalgo compared Platform X with “global sewer”.