Elon Musk’s profanity-laden rants against his social media platform’s advertisers are clearly working, according to a new report. The platform, formerly known as Twitter, is predicted to collect $2.5 billion in advertising revenue this year—a sharp drop from years prior, sources told the publication. X took in just over $600 million in revenue during each of the first three quarters of this year, a roughly 40% drop over the past 12 months alone. Sources told Bloomberg that executives at X had set a $3 billion target for both advertising and subscriptions in 2023. “This presents an incomplete view of our entire business, as the sources you’re relying on for information are not providing accurate and comprehensive details,” Joe Benarroch, head of business operations for X, told Bloomberg, adding X was an “evolving NEW global business with multiple revenue streams. We are not Twitter any longer and not measuring ourselves by old Twitter metrics — both in revenue and user metrics.”
