X May Lose Up to $75 Million in Revenue as More Advertisers Pull Out

[brooklynite]

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 The company said the numbers viewed by The Times were either outdated or represented an internal exercise to evaluate total risk.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?

[bucolic_frolic]

1. Xcrement

Phooey!

[GB_RN]

25. He's Taking "X"...

Down the Xitter with all the Nazi/MAGAt/fascist Xits.

(Pronounce the X as in a Chinese word - a “sh” sound - a la Xi Jin-Pingpong)

First asshole to lose $40 billion in value in less than one year. He paid $44 billion and before the one year anniversary of his taking over, Xitter was worth about $4 billion. Not exactly a business genius, eh?

[brush]

31. Right. With his poor judgment and how he's devalued Xitter, how in the world has he been successful with other ventures?

[AllaN01Bear]

33. he bought it for his buddy trump to spew his lies , now he reaps the wirlwind.

[elleng]

2. 75 million means nothing to the sociopath in chief of

X.

[Kennah]

10. Eloon seems to have a beer holder on payroll

[340ing]

20. Then why doesn't he go advertiser-free?

If he didn't need the advertising money, he wouldn't bother with advertisers at all.
Another question is why he borrowed money for bank to finance his Twitter venture. Why didn't he pay out of his own pocket?

[reACTIONary]

28. X-Actly...

... 75 million isn't the issue, it's the trend and the fact that he has to pay operating expenses, including employee's salary.

[CaptainTruth]

3. I'm really hoping to see Elmo fail miserably with Twitter.

He's already seriously damaged it & destroyed much of its value. Unfortunately he's so egotistical I think he will ride it to ruin before selling it off & cutting his losses.

He can't admit he was wrong & made a mistake.

[FakeNoose]

5. Exactly ... if he tried to sell it right now, there'd be no takers

He has already ruined it, and he might as well go down with the ship.

[spooky3]

27. I don't know...it might not be hard to turn it back around, and

Last edited Sat Nov 25, 2023, 03:58 PM - Edit history (1)

Attract the big advertisers once again. The problem is that he is happy to keep it as an online neighborhood for right wing trolls and haters.

[Roy Rolling]

36. True

Wait’ll the deplorables throw Elmo under the bus on their way to redneck anarchy. He keeps the zoo, but if the bars fail, the carnivorous animals will eat him, too.

Please. 😂

[ShazzieB]

16. Yes, he'll ride that horse until it drops dead.

I don't think he's any better at admitting when he's made a mistake than the Slobfather is. They're so much alike it's scary,

[reACTIONary]

29. One difference...

Elmo is foreign born and naturalized citizen. So he CAN'T be president. That's better than the 14th.

[ShazzieB]

40. Yes, that's such a comforting fact!

I remind myself of it often.

[dlk]

4. When you're a fascist cesspool...

Extremism is bad for business.

[Stuart G]

6. Donald Trump is way beyond a ..."fascist cesspool."

[dlk]

15. Sometimes there are no words...

n/t

[Talitha]

7. Gee, that's too bad.

[ShazzieB]

17. *Insert Jerry Seinfeld "That's a shame" gif*

[LetMyPeopleVote]

8. This makes me smile

[Journeyman]

9. Any odds on X lasting long enough for news reports to no longer refer to it as "formally Twitter"? . . .

[reACTIONary]

30. Maybe someday, just "formerly".

[sdfernando]

34. Yes a la TAFKAP

It can be TPFKATFKAX.

[erronis]

11. And yet. And yet politicians of all stripes and many DUers still just post xshitters.

Please DU folks - if there is an alternate source for your truths, please don't rely on the rest of us to have to visit the xshitter platform.

[womanofthehills]

21. X has more traffic than Facebook & Instagram

Our President, Vice President and Congress people are all on X. News breaks first on X.

“ Guess We're Not Dead Yet": New Traffic Data Shows Musk's X Surpasses Instagram And Facebook.”

Link to tweet

?s=46&t=YZgyyp4w_z7vW3neKxa6cQ

[ificandream]

12. It's really a ****hole platform now.

[womanofthehills]

45. It's about to get interesting with X AI Groc

You can get an AI analysis of your tweet or someone else’s - “with a rebellious streak. “

“In a few weeks, we will add a “Grok, analysis!” button under 𝕏 posts”

Link to tweet

?s=46&t=YZgyyp4w_z7vW3neKxa6cQ


“Elon Musk unveils Grok, an X AI chatbot with a ‘rebellious streak’”. https://www.theguardian.com/technology/2023/nov/05/elon-musk-unveils-grok-an-ai-chatbot-with-a-rebellious-streak


“Elon Musk has unveiled Grok, an artificial intelligence chatbot with a “rebellious streak” inspired by The Hitchhiker’s Guide to the Galaxy.

The Tesla CEO, who warned last week that AI was “one of the biggest threats to humanity”, said the competitor to ChatGPT would be made available to premium subscribers on his X platform after testing.

Musk also revealed that Grok had access to user posts on X, which he owns, and has a penchant for sarcastic responses.”

[amcgrath]

13. The extent of its importance has been downplayed by some,

But Twitter was heralded by western media, as the platform that carried the Arab Spring. It carried citizen news and it was used to organize protests. In a wider sense, it informed the stored of what was happening in a country where there is little or no press freedom.
I don’t believe it is coincidence that the kingdom it threatened decided to buy it and I don’t believe they care if it driven into oblivion. Musk did not have the sort of track record in business that inspires genuine investors to trust him with $44 billion, and despite having decimated the value of the platform, there is no sign that investors are getting cold feet
Meanwhile at Tesla, management seem to spend a lot of time trying to keep Musk in line, shareholders meetings have to some extent kept him in check, and the board have threatened to expel him.
The level of destruction at Twitter is far more profound. But Musk seems to retain the full support of his 'investors'. So perhaps things are going exactly as they hoped ?

[noclue023]

18. Of course they will ? Loss money & he's a government mooch !!

[womanofthehills]

23. The "kingdom" had shares in Twitter for over 10 yrs

They rolled their shares over to Elon when he bought it.

CAIRO, Oct 28 (Reuters) - Saudi Arabia's Kingdom Holding Company and the private office of Prince Alwaleed Bin Talal said on Friday that they will continue their ownership of Twitter (TWTR.N) shares valued at $1.89 billion after Elon Musk's takeover of the social media company, according to a statement tweeted by Prince Alwaleed.
https://www.reuters.com/markets/deals/saudis-kingdom-holding-company-maintain-twitter-stake-2022-10-28/

( then his cousin, Prince Mohammed Bin Salmon, jailed Prince Alwaleed and took almost 17% of his holdings - so Bin Salmon now owns part of Twitter. Twitter is big in Saudi Arabia )

[Yo_Mama_Been_Loggin]

14. That's okay

Eloon has plenty of money.

[340ing]

19. He's gonna visit Israel soon (pretending he's not antisemitic)

Nobody buys his little act.

[BlueNIndiana]

22. "Pause" Means ...

We don't really care about this issue and will start giving money again once the public moves on.

[IcyPeas]

42. Exactly. Its like putting a naughty kid in a time-out.

[Jean Genie]

24. Just a thought...

Oh dear! Poor Elon might have to apply to Meals on Wheels to feed his enormous number of spawn!

[struggle4progress]

26. Lawsuit against Media Matters could Xitter into 'rapid unscheduled disassembly'

Sarah Rumpf
Nov 22nd, 2023, 11:59 am

... like the “rapid unscheduled disassembly” that keeps plaguing his SpaceX rockets, Musk’s lawsuit creates some highly explosive problems for him that risk sending the Chief Twit crashing down to earth in a spectacular fashion.

The core of the dispute is a Media Matters article by Eric Hananoki, titled “As Musk endorses antisemitic conspiracy theory, X has been placing ads for Apple, Bravo, IBM, Oracle, and Xfinity next to pro-Nazi content,” detailing how ads on the social media platform from major corporations were ending up placed next to anti-Semitic and other hateful content.

The complaint filed by X Corp. doesn’t contest that this happened; instead it argues that by creating an account that was following other accounts posting hateful content and repeatedly refreshing the feed, Media Matters saw more ads than a typical user would due to this “inauthentic activity.”

... Don’t worry, big corporate advertisers — your ads might be placed next to Nazi content, but not very often! ...

https://www.mediaite.com/opinion/elon-musks-lawsuit-against-media-matters-risks-sending-twitter-into-a-rapid-unscheduled-disassembly/

[ificandream]

43. Sure, blame the algorithm, Elon.

[340ing]

44. Right wingers lose all their lawsuits

They file them out of anger.

[Stuart G]

32. When Biden pulls out of "X" and says it is "antisemitic" that is the end of "X" and " Eloon Musk."

[womanofthehills]

46. Biden is not going to pull out of Twitter

It is one of the best platforms to reach the young. The majority of active Twitter users are 18 to 49 yrs old. Do you want all these younger people to only get their info from Republicans?

[quakerboy]

35. When i stop hearing and seeing people post/quote the site

thats when this will have any real meaning.

Till then its paper shuffling.

[struggle4progress]

37. +

[xocetaceans]

38. One cannot spell "toXic" without X. n/t

[cstanleytech]

39. I'm wondering if Musk is deliberately trying to kill Facebook as you don't do things like change a

well recognized name without a damn good reason or make comments like he has been doing.

[Initech]

41. Good! Fuck Elon and fuck his white supremacist fans!

Hopefully this will prove that actions have consequences... but that probably won't stop Elon from hanging with the MAGA Nazi cult.