Social Media Giant X Faces $75M Hit as Advertisers Retreat
✅ X, formerly known as Twitter, is projected to lose up to $75 million in ad revenue by year's end due to an advertiser pullback.
✅ The exodus follows Elon Musk's endorsement of a controversial post, prompting brands like Disney and Warner Bros Discovery to halt ads.
✅ X has taken legal action against Media Matters for a report alleging brand ads appeared next to objectionable content.
✅ Over 200 ad units, including those from Airbnb, Amazon, and Microsoft, are paused or under review.
✅ The platform’s U.S. ad revenue has seen a significant downturn, dropping 55% year-over-year since Musk's acquisition.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more