The Strategist

Bloomberg: Social network X's ads revenue falls from $4B to $2.5B

12/13/2023 - 09:56

According to Bloomberg, social network X, formerly known as Twitter, is estimated to bring in roughly $2.5 billion this year—a decrease of more than a third to the previous year ($4 billion in revenue).

Heisenberg Media
Heisenberg Media
"X made slightly more than $600 million from advertising in each of the first three quarters of this year; comparable figures are anticipated for the current quarter... In contrast, the corporation made more than $1 billion every quarter in 2022," the newspaper writes.

Sources claim that 70–75% of X's entire revenue comes from ad revenues.

The Washington Post earlier noted that the company started losing sponsors and revenue since American billionaire and entrepreneur Elon Musk acquired X.