X (Twitter) will lose $75 million in revenue by the end of the year due to the loss of advertisers

CTOnews.com, Nov. 25 (Xinhua)-- Musk's X platform could lose as much as $75 million (CTOnews.com Note: about 536 million yuan) of advertising revenue by the end of the year due to dozens of major brands suspending advertising, the New York Times reported.

Musk had previously made anti-Semitic remarks, causing a number of companies, including Walt Disney and Warner Bros. Exploration, to suspend advertising on X. Apple also withdrew its advertising spending on X, according to several news media reports.

Musk made drastic reforms after buying Twitter, causing a large number of advertisers to flee X. Apple continues to choose to place ads on the X platform, and Musk, one of its advertising partners, thanked Apple in March for its support, calling the company one of the "biggest advertisers" of X (Twitter).

Since Musk took over, platform X's US advertising revenue has fallen by at least 55 per cent a month compared with the same period a year earlier.