The year 2023 has been very colorful for the microblogging platform “X”. The biggest event was probably the rebranding that Elon Musk implemented at the end of July. At the same time, during the year, the company was involved in various scandals, which angered “X” advertisers for no reason. That’s also reflected in “X’s” ad revenue, which is down nearly $1 billion from last year.
“X” is projected to reach $2.5 billion in ad revenue this year. That’s a significant drop from last year, when “X” collected $3.4 billion from advertisers.
Those more familiar with X’s finances know that in each of the quarters of this year, the company took in more than $600 million in advertising revenue. It is predicted that “X” will do similarly in the last quarter of 2023, despite the recent scandals that prompted more than 100 advertisers to suspend cooperation with “X”. Meanwhile, in 2022, the company’s total revenue exceeded a billion dollars every quarter.
It also states that advertising currently accounts for 70% – 75% of “X”‘s total revenue. That means that including revenue from subscriptions, data licensing deals for “X,” total revenue this year could still approach the $3.4 billion mark.
2023-12-17 11:00:00
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