San Francisco
In a recent announcement, X CEO Linda Yaccarino revealed that the platform has experienced a remarkable influx, with more than 10 million sign-ups in December. This revelation follows concerns of potential advertising revenue losses reaching up to $75 million by the year-end, triggered by the withdrawal of marketing campaigns from major brands. The move comes in the wake of Elon Musk, the CEO of X, endorsing an anti-Semitic conspiracy theory last month. Internal documents, as reported by The New York Times, suggest that over 200 ad units from prominent companies like Airbnb, Amazon, Coca-Cola, Microsoft, and others, have either been halted or are contemplating pausing their ads on X. Notably, retail giant Walmart has confirmed that it is refraining from advertising on the platform. Recent data from October indicates that X experienced a reduction of over half a billion user visits in September, causing it to slide to seventh place globally, trailing behind Instagram. In September alone, X’s traffic dwindled from 6.4 billion to 5.8 billion, reflecting a 10% decline, as per the latest findings from SimilarWeb data. Among the 176 countries that visited X in September, 83% witnessed a month-on-month decline in visits. Elon Musk made headlines when he bluntly told advertisers to go f*** yourself in response to some major companies pulling their ads due to his endorsement of anti-Semitic content on the platform. However, he later apologized, deeming it his dumbest social media post to date.
