San Francisco, December 13: The X platform under Elon Musk has seen its ad share nosediving, and the company may generate $2.5 billion this year, missing the internal targets of $3 billion. Bloomberg reports that ad sales on X are reportedly about a half billion lower than anticipated for 2023, as several top advertisers left the platform for his support for antisemitism.

X generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, according to the report, citing sources. The company earned more than $1 billion per quarter in 2022. Joe Benarroch, X head of business operations, was quoted as saying that they are not 슬롯사이트Twitter any longer and not measuring themselves by old Twitter metrics -- both in revenue and user metrics.슬롯사이트�슬롯 머신 사이트 추천Elon Musk Crosses 166 Million Followers On X, Becomes Most Interacted Social Media Account in the World: Report.

The loans Musk took out to buy Twitter (now called X) was about $13 billion and the social media company has to pay about $1.2 billion in interest payments every year. As big advertisers quit the platform and X cannot pay the interest on its loans or pay employees, then it could actually go bankrupt, the BBC reported earlier this month. 슬롯사이트But that would be an extreme scenario that Musk would surely want to avoid,슬롯사이트� the report mentioned.

However, for a company he bought for $44 billion, bankruptcy might sound unthinkable but 슬롯사이트it is possible슬롯사이트�. Disney and Apple are no longer advertising on X and Musk told companies to "Go f*** yourself.슬롯사이트� Retail giant Walmart has confirmed that it is not advertising on X. "We aren슬롯사이트t advertising on X as we슬롯사이트ve found other platforms to better reach our customers," a Walmart spokesperson was quoted as saying in reports.슬롯 머신 사이트 추천Tesla Optimus Gen 2 Unveiled: Tech Giant Introduces Next Generation Autonomous Humanoid Robot to Perform 슬롯사이트Unsafe, Repetitive or Boring Tasks슬롯사이트� (Watch Video).

The departure of Walmart adds to the growing list of firms leaving X after Musk endorsed an antisemitic post last month (for which, he apologised). Apple, Disney, IBM, Comcast and Warner Bros. Discovery are among the companies no longer buying ads on X. Last year, around 90 per cent of X's revenue came from advertising. Musk has warned that the loss of big advertisers would spell the end of X. "If the company fails, it will fail because of an advertiser boycott. And that will be what bankrupts the company." he said.

(The above story first appeared on LatestLY on Dec 13, 2023 10:39 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).