X (formerly Twitter)'s advertising revenue in 2023 is expected to be $2.5 billion, a decrease of $1.5 billion from the previous year.

It is reported that advertising revenue for X (formerly Twitter), owned by Elon Musk, will be $2.5 billion (about 360 billion yen) in 2023, a drop of about $1.5 billion (about 210 billion yen) from the previous year. It is being

Elon Musk's X 2023 Ad Revenue Projected to Slump to About $2.5 Billion - Bloomberg

Elon Musk's X ad revenue reportedly fell $1.5B this year amid boycotts | Ars Technica

X relies on advertising for most of its revenue, but since Musk acquired X, then Twitter, in October 2022, more than half of major advertisers have stopped advertising on X. It has been reported that advertising revenues are plummeting. In July 2023, Mr. Musk himself revealed that advertising revenue was down 50% from its peak.

Elon Musk bluntly says, ``Twitter's advertising revenue has decreased by 50% and cash flow remains negative'' - GIGAZINE

In particular, in November 2023, Mr. Musk expressed support for anti-Semitic posts, leading major advertisers such as Apple and Disney to temporarily suspend advertising. Although Musk later apologized, he made headlines for using abusive language at advertisers.

Elon Musk hits back at advertisers such as Disney who have stopped advertising, saying, ``Fuck it!'' - GIGAZINE

According to sources familiar with Bloomberg, The company expects similar results for the quarter (October to December). In other words, advertising revenue for the entirety of 2023 is expected to reach approximately $2.5 billion.

However, according to Bloomberg, there was advertising revenue of 1 billion dollars (about 140 billion yen) per quarter in 2022. In other words, compared to 2022, when full-year advertising revenue was $4 billion (about 570 billion yen), advertising revenue in 2023 is expected to drop by about $1.5 billion overall.

Bloomberg said, ``The way X is handling content moderation under the Musk administration, particularly highlights advertisers' concerns about the new owner's posts that amplify anti-Semitic and other extremist views.'' ”.

by duncan cumming

According to those involved, 70 to 75% of X's total revenue is advertising revenue, and if subscription and data license contract revenue is included, total revenue for fiscal 2023 will be approximately $3.4 billion (approximately 4,800 million dollars). billion yen). In 2021, just before Mr. Musk acquired Twitter, then CEO Jack Dorsey said, ``Revenue in 2021 exceeded $5 billion (approximately 700 billion yen).By the end of 2023, it will increase to $7.5 billion (approximately 700 billion yen). 'We have set a public goal of achieving revenue of 1.5 trillion yen),' the company said in a statement.The total revenue of 3.4 billion dollars is considered to be quite difficult.

Joe Benarozzi, head of business operations at 'The view is incomplete,' he argues.

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