Elon Musk's social media platform X may face a potential loss of $75 million in advertising revenue by the end of the year.
Major brands, including Walt Disney and Warner Bros Discovery, have paused their marketing campaigns on the platform following Musk's backing of an antisemitic post.
Internal documents reveal over 200 ad units from companies like Airbnb, Amazon, Coca-Cola, and Microsoft have either halted or are considering pausing their ads on X.
Internal documents reveal over 200 ad units paused or under consideration by companies like Airbnb, Amazon, Coca-Cola, and Microsoft.
X states $11 million in revenue at risk, with fluctuations as some advertisers return or increase spending.
Advertisers flee since Musk's 2022 takeover, citing reduced content moderation and a surge in hate speech.
U.S. ad revenue for X has declined at least 55% YoY each month since Musk's ownership. X did not immediately respond to Reuters' request for comment on the situation.