Despite significant business challenges, X has managed to keep making interest payments on its debt. However, major issues remain in attracting ad spend back to the platform.
From market data, it’s evident that total ad spending among the top 100 advertisers on X has plummeted by 68% in the first half of 2024 compared to the same time in 2022.
Musk’s aggressive tactics, including private calls to CEOs and lawsuits against major brands, illustrate his desperation to restore X's advertising revenue, which is projected to fall to $1.9 billion this year.
Only a handful of top advertisers have returned to X after ceasing ad spend in late 2022, with new advertisers largely replacing them, but at significantly lower spending levels.
Collection
[
|
...
]