After Elon Musk's takeover of Twitter, now rebranded as X, the company's revenues and profits in the UK fell drastically. Official accounts disclose a 66.3% drop in revenue, from £205.3m in 2022 to £69.1m in 2023, alongside a significant decline in profits. The decline has been blamed on advertiser concerns regarding brand safety and content moderation. Despite staff reductions and a tumultuous transition, experts suggest potential for recovery as investments in safety tools could help regain advertiser confidence.
X's revenues and profits collapsed in the UK post-Elon Musk's takeover, attributed to declining advertising spending due to brand safety concerns.
Despite significant losses, X's value is now back to the $44bn Musk paid for it, indicating potential recovery on the horizon.
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