X May Go Bankrupt Under Elon Musk If Advertisers Keep Fleeing, Says Report
In 2022, Twitter's advertising revenue was around $4 billion. Insider Intelligence estimates that this year, it will drop to $1.9 billion. After Musk슬롯사이트s outburst against big advertisers, X is reportedly aiming to tap small and medium businesses (SMBs) to offset the advertising loss from big companies.
London, December 3: The loans Elon Musk took out to buy Twitter (now called X) was about $13 billion and the social media company has to pay about $1.2 billion in interest payments every year. As big advertisers quit the platform and X cannot pay the interest on its loans or pay employees, then it could actually go bankrupt, the BBC reported on Sunday. 슬롯사이트But that would be an extreme scenario that Musk would surely want to avoid,슬롯사이트 the report mentioned.
However, for a company he bought for $44 billion, bankruptcy might sound unthinkable but 슬롯사이트it is possible슬롯사이트. Disney and Apple are no longer advertising on X and Musk told companies last week to "Go f*** yourself.슬롯사이트 Retail giant Walmart has confirmed that it is not advertising on X. "We aren슬롯사이트t advertising on X as we슬롯사이트ve found other platforms to better reach our customers," a Walmart spokesperson was quoted as saying in reports.슬롯 머신 사이트 추천X New Feature Update: Elon Musk-Owned Platform Introduces AI-Based 'See Similar Posts' Feature; Plans to Launch 'See Dissimilar Posts' Option Too.
The departure of Walmart adds to the growing list of firms leaving X after Musk endorsed an antisemitic post last month (for which, he apologised last week). Apple, Disney, IBM, Comcast and Warner Bros. Discovery are among the companies no longer buying ads on X. Last year, around 90 per cent of X's revenue came from advertising. Not any more. Musk has warned that the loss of big advertisers would spell the end of X. "If the company fails, it will fail because of an advertiser boycott. And that will be what bankrupts the company." he said.
"What this advertising boycott is going to do is kill the company. And the whole world will know that those advertisers killed the company, and we will document it in great detail," Musk had told the audience at The New York Times' DealBook Summit.
In 2022, Twitter's advertising revenue was around $4 billion. Insider Intelligence estimates that this year, it will drop to $1.9 billion. After Musk슬롯사이트s outburst against big advertisers, X is reportedly aiming to tap small and medium businesses (SMBs) to offset the advertising loss from big companies.슬롯 머신 사이트 추천Elon Musk Says Those Who Can't Handle 'Reality' Will Leave X Due to Community Notes.
A new report by The Financial Times has claimed X will now turn to SMBs to shore up revenue after Musk angered big brands by supporting antisemitic content. 슬롯사이트Small and medium businesses are a very significant engine that we have definitely underplayed for a long time," a company spokesperson was quoted as saying. 슬롯사이트It was always part of the plan, now we will go even further with it,슬롯사이트 the company added.
(The above story first appeared on LatestLY on Dec 03, 2023 02:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).