Twitter / X now close to break even - 08/10/23
Even with all the headwinds, all the left wing haters and leavers and pressure on advertisers, the new CEO discussed today how advertisers are coming back and the company is close to breaking even. Competitor Msf "Threads" is having difficulty finding traction.
That is quite something. The pendulum is starting to swing faster and faster.
https://www.cnn.com/2023/08/10/tech/x-ceo-linda-yaccarino-threads-meta/index.html
"Yaccarino, a former marketing executive with NBCUniversal, was brought on to Twitter in part to help revive its advertising business. And she said on Thursday that the company is “close to breakeven.”
“Coca Cola, Visa, State Farm is a huge partner, they’re coming back — the last bunch of weeks, continued revenue growth,” Yaccarino said.
But maintaining the ad business has been an uphill battle for the site since Musk’s takeover. Hordes of advertisers halted spending on the platform over concerns about content moderation, mass layoffs and general uncertainty about the company’s future. Musk has also defended his own controversial tweets, telling CNBC in May, “I’ll say what I want, and if the consequence of that is losing money, so be it.”
Yaccarino pointed to the company’s “freedom of speech, not freedom of reach” policy that aims to limit the reach of so-called lawful but awful content on the platform and to protect brands from having their ads appear alongside such content. X on Tuesday rolled out additional brand safety controls for advertisers, including the ability to avoid having their ads show next to “targeted hate speech, sexual content, gratuitous gore, excessive profanity, obscenity, spam, drugs.” "
That is quite something. The pendulum is starting to swing faster and faster.
https:/
"Yaccarino, a former marketing executive with NBCUniversal, was brought on to Twitter in part to help revive its advertising business. And she said on Thursday that the company is “close to breakeven.”
“Coca Cola, Visa, State Farm is a huge partner, they’re coming back — the last bunch of weeks, continued revenue growth,” Yaccarino said.
But maintaining the ad business has been an uphill battle for the site since Musk’s takeover. Hordes of advertisers halted spending on the platform over concerns about content moderation, mass layoffs and general uncertainty about the company’s future. Musk has also defended his own controversial tweets, telling CNBC in May, “I’ll say what I want, and if the consequence of that is losing money, so be it.”
Yaccarino pointed to the company’s “freedom of speech, not freedom of reach” policy that aims to limit the reach of so-called lawful but awful content on the platform and to protect brands from having their ads appear alongside such content. X on Tuesday rolled out additional brand safety controls for advertisers, including the ability to avoid having their ads show next to “targeted hate speech, sexual content, gratuitous gore, excessive profanity, obscenity, spam, drugs.” "