X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month.
They list how much ad revenue X employees fear the company could lose through the end of the year if advertisers do not return.
On Friday, X said in a statement that $11 million in revenue was at risk and that the exact figure fluctuated as some advertisers returned to the platform and others increased spending.
The company said the numbers viewed by The Times were either outdated or represented an internal exercise to evaluate total risk.
X is also running ad campaigns during the holiday period to try to make up for revenue shortfalls.
Persons:
Elon Musk, Musk, X, Musk’s, Linda Yaccarino, ” Leesha Anderson, ”, Uber, Jack, Netflix’s, Chris Christie, it’s Elon Musk, Yaccarino, ” X, “, ’, Ms, “ Lean, Tiffany Hsu
Organizations:
The New York Times, IBM, Apple, Disney, X, Microsoft, The Times, Twitter, Netflix, Google, NBC Universal, NBC, Press, Republican, Media, National Football League, New York Times, Athletic
Locations:
”, Gaza, Israel