Social media company X could lose approximately $75 million in advertising revenue by the end of the year because significant brands have paused their marketing campaigns.
Several companies like Walt Disney, Apple, Oracle, and Warner Bros Discovery have paused their advertisements on the site, which will lose the company’s marketing revenue at scale.
More than 200 ad units of companies like Amazon, Airbnb, and Microsoft have also halted or are considering pausing their ads on social networks.
X is likely to lose $11 million in revenue as some advertisers return to the platform and others increase spending. Advertisers have also left the X platform and reduced content moderation, decreasing revenue generation.
Read More: X may lose up to $75 mln by year-end on advertiser exodus – NYT
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