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The Unofficial "Elon Musk trying to "Save Everyone" from Themselves (except his Step-Sister)" Thread...


Renegade7

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Linda Yaccarino again claims advertisers are returning to X. Here are the facts.

 

CEO Linda Yaccarino and others at X (formerly Twitter) have repeatedly tried to boast that advertisers are returning to the platform, but a new Media Matters analysis tells a different story: Since Elon Musk took over the company, it has earned 42% less ad revenue and had 28% fewer individual monthly advertisers than before his leadership began. Additionally, in the 12 weeks of Yaccarino’s tenure as CEO, the majority of the company’s top 100 advertisers pre-Musk spent a fraction of what they did in the 12 weeks prior to Musk’s acquisition.

 

For example, Visa — which Yaccarino cited as an example of a “returning” advertiser — has spent just $10 in the past 12 weeks, compared to roughly $77,500 in the 12 weeks before Musk bought Twitter.

 

Media Matters has been tracking advertising data on X from Sensor Tower since Musk acquired what was then called Twitter on October 27, 2022. Less than a month later, we found that 50 of the top 100 advertisers from prior to Musk’s takeover had either announced they would stop, or seemingly stopped, advertising on the platform.

 

Yaccarino and Musk have repeatedly claimed that advertisers that left Twitter after Musk’s acquisition are returning to the platform, despite evidence to the contrary. Yaccarino is slated on October 5 to outline the company's business plans to bank lenders who helped finance the acquisition, and Reuters reported on October 4 that X’s monthly U.S. ad revenue “has declined at least 55% year-over-year each month” since Musk’s takeover. 

 

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Six months later, we can see that the effects of leaving Twitter have been negligible. A memo circulated to NPR staff says traffic has dropped by only a single percentage point as a result of leaving Twitter, now officially renamed X, though traffic from the platform was small already and accounted for just under two percent of traffic before the posting stopped. (NPR declined an interview request but shared the memo and other information). While NPR’s main account had 8.7 million followers and the politics account had just under three million, “the platform’s algorithm updates made it increasingly challenging to reach active users; you often saw a near-immediate drop-off in engagement after tweeting and users rarely left the platform,” the memo says.

 

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