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.

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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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