Data from eMarketer indicates that this year, the advertising revenue of platform X will experience its first significant growth since 2021. Advertising revenue in the United States is projected to increase by 17.5% to $1.3 trillion (44 billion baht), while global advertising revenue will see a 16.5% increase to $2.3 trillion (78 billion baht).
Some advertisers and brands express apprehension towards Elon Musk, especially after his increased influence during the Trump administration. Certain ad agencies recommend their clients invest in advertising on platform X to maintain their business status or brand reputation. Failure to advertise may result in scrutiny from Musk or potential business issues in the future.
Despite the revenue growth, X’s advertising business remains smaller than before Musk took control, as seen in 2022 with advertising revenue in the US reaching $2.4 trillion. X has yet to reach those previous heights.
Many brands withdrew their ads at the time due to Musk laying off many employees, changing content filtering policies, lifting bans on certain accounts, and suing some advertising companies for attempting to boycott the platform.
Nevertheless, X is attracting new advertisers from small to medium-sized businesses, a group previously unreachable even after Twitter’s attempts. Following Meta’s content filtering adjustment, some brands have returned to advertise on X once again.
Experts warn that the recovery of X’s advertising business is still fragile, as many users remain dissatisfied with Musk. If advertisers’ primary motivation is fear, it might not be a sustainable long-term strategy.
Source: Business Insider and Ad News
TLDR: The advertising revenue of platform X is set to soar this year, with fears surrounding Elon Musk’s influence impacting advertiser decisions. Despite growth, uncertainties loom over X’s advertising business as user discontent towards Musk persists.
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