Shulou(Shulou.com)12/24 Report--

According to CTOnews.com on December 13, Musk announced the completion of his $44 billion acquisition of Twitter on October 27, 2022 (CTOnews.com Note: currently about 315.92 billion yuan), but X (formerly Twitter) may be valued at less than half.

X advertising revenue is expected to fall sharply and is expected to generate $2.5 billion (currently about 17.95 billion yuan) this year, down about 37.5% from more than $4 billion in 2022, Bloomberg quoted people familiar with the matter as saying. and that figure is below its initial target of $3 billion.

X's advertising revenue in each of the first three quarters of this year was just over $600 million, and this quarter's performance has largely continued, according to a person familiar with the matter. By contrast, advertising sales exceeded $1 billion each quarter in 2022.

Advertising revenue currently accounts for 70% to 75% of X's total revenue, but Musk has previously been boycotted because of anti-Semitic comments, and more than 100 brands, including Apple and Disney, have announced that they will stop advertising on X. as a result, the platform could lose as much as $75 million (currently about 538 million yuan) in advertising revenue by the end of this year.

At the end of last month, Musk responded arrogantly, saying that if platform X failed, these advertisers would be the culprits, and hinted that users would boycott them in turn.

Related readings:

"Musk responded domineering after more than 100 financiers, including Apple and Disney, stopped advertising on X (Twitter)."

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