Bloomberg: Twitter Ad Sales Down $1.5B Over 2022

Bloomberg News reports:

Elon Musk’s X, the social network formerly known as Twitter, is on track to bring in roughly $2.5 billion in advertising revenue in 2023 — a significant slump from prior years, according to people familiar with the matter.

X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to a person familiar with the numbers. That compares to more than $1 billion per quarter in 2022.

The previously unreported sales figures underscore with greater clarity advertisers’ unease with how X is handling content moderation under Musk, and in particular the new owner’s posts that amplify antisemitic and other extremist views.

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NEW: X, the social network formerly known as Twitter, is on track to bring in roughly $2.5 billion in advertising revenue in 2023 — a significant slump from prior years https://t.co/jVZ934k8X8

— Bloomberg (@business) December 12, 2023