Elon Musk’s acquisition of social media platform X has been a bumpy ride for advertisers. According to third-party data, US ad revenue at X has declined at least 55% year-over-year each month since the takeover in October 2022.
The decline in ad revenue has been linked to advertisers’ concerns about the rapid changes that have taken place under Musk’s ownership. These changes have included layoffs, executive departures, and a loosening of content moderation policies.
It remains to be seen whether Musk can turn things around at X. However, the decline in ad revenue is a worrying sign for the company’s future.
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