Find Now What is Happening with X After Elon Musk Advertisers Interview Where He Cussed them
Eight months ago, Elon Musk advertisers found themselves shocked when the tech giant artfully told them to “go f**k themselves” in an interview with Andrew Ross Sorkin of the New York Times. Musk’s uncensored outburst wasn’t just a slip of the tongue – it was a direct hit after Disney+ yanked its ads from X following Musk’s posts on the platform.
So, what’s happened since? Is Elon Musk treating the wounds he gouged, or is there no path to redemption? Complicated question which begs a complicated answer.
The dissolution of Elon Musk and his advertisers
Musk is a man of controversy, cars, and capital. His recent outburst was not the tipping point for advertisers against X. His previous antics, such as posting antisemitic posts, ignited a ruse among big players such as Disney. Even in the same controversial interview with a New York Times columnist, Elon mentioned ‘Bob’s’ issues – as in Bob Igor of the Disney Corporation.
Disney pulled off its ad-spends from the platform and protested Musk’s behavior. Adding to the fire, X’s user stats went down from 259 million to 225 million—a significant setback for the business.
Ad revenue is very much essential for social platforms. But, with the above numbers, it seems X will witness hurdles and negative growth in the coming days. The business forecast for X’s ad revenue is $2.79 billion, compared to Twitter’s ad revenue 2022, which was $4.14 billion.
Sixty-six percent of brands are present on X, while 91 percent are on Facebook. X (FKA Twitter) has existed for a long time, so it is wise for companies to have accounts on one of the major social platforms for digital appearance. Despite that, brands are not very confident with X. Only 30 percent of social marketers are seemingly sure of positive ROI on X.
X is struggling to remain afloat amidst Musk takeover
Today, the once-top-performing social media platform has reduced to 9th in the USA, with only 22% of Americans actively using Twitter, compared to 68% for Facebook and 47% for Instagram. The struggle to keep users connected has become a big disappointment to marketers, in addition to Musk as ambassador.
Even if we try to move past Musk’s posts, there is another knot in the thread. X has a huge gender gap between its user base and its competitors. Only 19% of women in the USA keep up with X, while 26% of men use the platform.
Musk and X have become nearly inseparable, blurring the lines between the man and the platform. The mirror effect has caused more loss than any high-impact gain. From posting far-right conspiracy posts to trolling users — Musk appears like he is treating X as his chamber and pot. Surprise -not a lot of people are into reading anti-trans rhetoric and white supremacist anecdotes.
Are the attempts to revitalize X working?
Previously, Twitter was accessible and available for everyone, whether you were a user or just a visitor. Everything was open: likes, replies, and retweets. As part of a larger incentive strategy, Elon has put limitations on users and visitors.
X subscriptions
Basic, Premium, and Premium+ tiers are the new ways to enter inside. You must pay for blue tick, you must pay for replies, and you must pay more for long replies, articles, and access to Grok ( X’s genAI chatbot). Users on X can expect to pay between $3 to $16 per month under the new subscription model.
Creating an ‘everything app’
Elon’s highly ambitious plan to create an ‘everything app’ has taken a toll on X. Subscriptions-based sign-in to be on the platform (only 15% are original posts), article writing, voice notes, and a chatbot — it is an undeniable attempt to create an app which has everything inside of it. The funniest thing is that Elon wants to recreate the Chinese app WeChat through X.
Doubling down on advertisers
If you thought he may regret the comments, think again. Since, Musk has doubled down on critiquing advertisers, competitors, and media outlets. The latest is an Antitrust suit against advertisers and corporations such as the World Federation of Advertisers (WFA), Unilever, Mars, CVS Health, and Orsted, a Danish energy company.
The company also filed a lawsuit against the media watchdog Media Matters over a report published last year that detailed instances of advertisements on X appearing alongside white supremacist content.
Cut to the chase
Musk’s social media platform X has been in the news more for its controversies than its successes. After acquiring Twitter, Elon Musk attempted to shape it into an ‘everything app’ by changing its branding, name, and logo. However, the outcomes and results were not as expected for the business.
