The social media platform has encountered a significant downturn in advertiser confidence following its owner, Elon Musk’s endorsement of an antisemitic conspiracy theory. The potential revenue loss, estimated at up to US$75 million by year-end, underscores the severity of the situation. X’s advertising revenue is particularly vulnerable during the final quarter, traditionally its strongest period, marked by holiday promotions such as Black Friday and Cyber Monday. Antisemitic conspiracy theory :The Challenge of Rebuilding TrustWith brands expressing reservations about advertising on X, the platform faces the uphill task of rebuilding trust and reassuring advertisers of a secure and brand-friendly environment. X’s predicament, precipitated by Elon Musk’s endorsement of an antisemitic conspiracy theory, underscores the fragility of advertiser confidence and the far-reaching consequences of controversial ownership.

Source: New York Times November 25, 2023 22:07 UTC