X (formerly Twitter) may lose more than 11 billion yen by the end of the year due to successive withdrawals of advertisers
In the wake
X May Lose Up to $75 Million in Revenue as More Advertisers Pull Out - The New York Times
https://www.nytimes.com/2023/11/24/business/x-elon-musk-advertisers.html
X may lose up to $75 million by year-end on advertiser exodus - NYT | Reuters
https://jp.reuters.com/article/twitter-advertising-idTRNIKBN32J1JL
X at risk of losing $75m in ad revenue by the end of 2023 | Mashable
https://mashable.com/article/x-twitter-ads-lost-revenue-75m
The media monitoring group Media Matters has announced the results of a survey showing that ``X is displaying advertisements from large companies near anti-Semitic posts.'' As a result, companies such as IBM, Apple, Disney, Comcast, and their subsidiaries NBCUniversal, Lions Gate, Warner Bros. Discovery, and Paramount have stopped advertising on X. On the other hand, Mr. Musk's posting of content related to white supremacy and anti-Israelism on X has also spurred the uproar.
Apple, Disney, Warner, Paramount and others stop advertising on X (Twitter) in response to Elon Musk's anti-Semitic comments - GIGAZINE
by Daniel Oberhaus
According to internal X documents obtained exclusively by The New York Times, more than 200 companies, including companies like Apple and Disney, as well as Airbnb, Amazon, Coca-Cola, and Microsoft, have stopped advertising on X or stopped advertising. Apparently they are considering stopping publication. The internal document estimates that X will lose up to $75 million in advertising revenue by the end of 2023.
This internal document was created by X's sales team to track all impacts, including 'companies that have suspended advertising' and 'companies that are considering pausing advertising.' It seems to be a thing. Meanwhile, X commented on the New York Times report that advertising revenue of about $11 million (approximately 1.6 billion yen) is at risk due to this incident. They claim that the $11 million figure is not accurate as some advertisers have resumed advertising on X, and others have taken advantage of the uproar to increase their ad spending. I am.
In addition, X said in an internal document obtained by The New York Times that the $75 million figure was either outdated or used in an internal exercise to assess overall risk. He emphasized that the numbers are far from the actual amount of losses.
According to internal documents, Airbnb, one of the companies that stopped advertising, has stopped advertising worth more than $1 million (about 150 million yen), and Uber has stopped advertising worth more than $ 800,000 (about 120 million yen). ) or more ads will be stopped. It seems that Netflix has stopped advertising worth 3 million dollars (about 450 million yen).
The defection of advertisers occurred during one of the biggest sales of the year, such as Black Friday and Cyber Monday , just before companies spent large amounts of money on advertising. In addition, Twitter's sales in the fourth quarter of 2021 (October to December) were $ 1.57 billion (approximately 235 billion yen), of which advertising revenue accounts for 90%.
The reason why the fourth quarter of 2021 is cited as reference data instead of the fourth quarter of 2022 is because Mr. Mask's acquisition of Twitter was carried out in November 2022. In fact, at the end of 2022, when Mr. Musk's acquisition of Twitter was realized, Twitter was experiencing a similar loss of advertisers, and Mr. Musk also stated that ``revenue has decreased significantly due to the loss of advertisers.'' I did.
70% of Twitter's top 100 advertisers have stopped advertising - GIGAZINE
In addition, X is suing Media Matters, which started the commotion, for defamation and interference with business.
X sues the media that claimed that ``X (formerly Twitter) displays advertisements from famous companies such as Apple on anti-Semitic posts,'' and although CEO Yaccarino denies the claim, evidence is quickly presented - GIGAZINE
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