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The situation escalated further after Musk openly promoted anti-Semitic conspiracy theories, which led to a rapid exodus of advertisers. The consequences of Musk’s actions were unexpected and serious,
The situation escalated further after Musk openly promoted anti-Semitic conspiracy theories, which led to a rapid exodus of advertisers. The consequences of Musk’s actions were unexpected and serious, and industry analysts are predicting an even more significant decline in ad sales on the platform.
Watchdog Media Matters played a key role in uncovering the issue. It was found that the platform included content encouraging hatred, anti-Semitic posts and other similar content, as well as advertisements of large companies such as Microsoft and IBM. This announcement caused many leading advertisers to freeze ad spend on X.
Insider Intelligence analyst Jasmine Enberg noted:
The loss of X’s advertising business will be severe. The departure of established advertisers will inspire others to follow suit, and will likely be followed by a long tail of less active advertisers who have suspended spending.
Musk, who acknowledged a 60 percent drop in ad revenue a few months ago compared to last year, now believes his platform is in an even tougher spot. Following the controversy, X CEO Linda Jaccarino was tasked with finding new revenue streams, while internal sources reported employees’ concerns about the future of the platform.
Enberg noted the unprecedented nature of the current situation, saying advertisers are accustomed to dealing with brand safety issues on social media, especially in times of political and social tension or war. However, they are not used to the platform owner spreading misinformation and hate speech and encouraging conspiracy theorists.
While X is going through this difficult period, the extent of its impact on ad revenue remains unclear, casting doubt on the platform’s ability to recover from the current crisis. Analysts do not see easy ways out of the situation; It is unknown whether Linda Yaccarino will be able to find them. Perhaps we are currently witnessing the great collapse of the once truly important social network X.
Source: 24 Tv
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.
