X is seeking to attract small and medium -sized businesses to make up for the advertising revenue is severely decreasing when the owner of this social network, Elon Musk, causes painting again.

Elon Musk bluntly used profanity against big brands, advertising revenue could evaporate by 75 million USD, social network X is urgently looking for a new lifeline - Photo 1.

Photo: Financial Times

Major advertising brands such as Disney, IBM and Apple stopped spending money on X after its owner, billionaire Elon Musk, expressed support for posts with anti-Semitic content. Later, Musk also accused these advertisers of blackmail and even used profanity towards them.

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“SMEs are a very important resource that we have overlooked for a long time. We will now go even further with our plans for this customer base,” the company told the Financial Times (FT).

X said that this month, the company has begun to cooperate with third parties. For example, X will hire American marketing startup JumpCrew to push some advertising sales targeted at small and medium-sized businesses.

The latest exodus by advertisers has raised new concerns about X’s finances. The New York Times reported last week that X is at risk of losing up to $75 million this quarter due to fraud. avoid advertising. However, X, responding to FT, disputed this figure by estimating a decrease of only 10-12 million USD.

The Tesla boss’s $44 billion takeover last year also placed the burden of huge interest payment obligations on X for debt worth more than $1 billion per year. Last month, X told employees that the company’s valuation was only $19 billion.

A former senior sales executive at sales units and adopt an automated “small business self-service platform.”

Such a change would be difficult because ” this person added.

Some industry executives said changing advertising strategies would be helpful because there are sectors that are less concerned about Musk’s words, such as sports betting. Some influential right-wingers, such as Andrew Tate, have pledged to spend millions on advertising on the platform.

However, other industry executives added that Musk’s latest blip will likely lead to a new advertising spending freeze.

“Advertisers have a number of major platforms on which to spend their advertising dollars, and they are not choosing,” said Jonathan Miller, chief executive of Integrated Media, a company specializing in digital media investments. the foundation that offends me.”