Platform X Can Lose Ad Revenue Up To IDR 1.1 Trillion By The End Of 2023

JAKARTA - The issue of advertising on platform X, formerly Twitter, seems to be causing a lot of harm by the end of this year. In fact, their advertising revenue is usually high in the last quarter.

X usually increases the number of advertisements towards the end of the year to support the shopping season during the Christmas and New Year holidays. However, the New York Times expects revenue in the last quarter to be much different from usual.

More than 100 brands and political candidates have reportedly stopped their ads, both temporary and long-term, on the website X. Beyond that number, dozens of advertisers are also considering discontinuing advertising.

With the loss of hundreds of advertisers, the New York Times expects considerable losses. X may lose up to 75 million US dollars in ad revenue or around IDR 1.1 trillion.

The resignation of these advertisers was the first time after Elon Musk, owner of X, posted a controversial tweet regarding antisemitism conspiracy theories. Shortly after, the Media Matters research center uploaded articles related to advertising alongside antisemitism content.

Media Matters said that products from major advertisers such as Apple, IBM, Xfinity, and Oracle were placed side by side with content supporting the Nazi movement and promoting Hitler.

Thanks to the resignation of advertisers in a fairly short time, Elon Musk immediately filed a lawsuit on Monday, November 20. Media Matters is considered to have manipulated the layout of advertisements in addition to pro-Nazi content.

The companies that have attracted the most recent ads are Ubisoft, Airbnb, Uber, and Coca-Cola. Airbnb is known to have stopped advertising for $1 million, while Netflix has stopped advertising for $4 million.