Hold onto your hats, folks! It's time for a jaw-dropping revelation about the social media sensation formerly known as Twitter, now rebranded as the enigmatic "X" under the rule of tech titan Elon Musk.
Okay, so, there's this secret sauce in the digital advertising world known as CPM (Cost Per Thousand Impressions). Think of it as the glittering treasure map guiding advertisers to the most valuable ad spaces. When CPM is low, it's like a fire sale, and the money faucet sputters. When it's high, it's like printing cash – especially during events like Black Friday.
But here's the kicker – a bombshell report has surfaced, unveiling a staggering 75% nosedive in Twitter/X's CPM since Musk's coronation in October 2022. Brace yourselves, because the CPM hit an all-time low at a mere $0.65 in August 2023, plummeting from its September 2022 peak of $5.77.
In a shocking twist, Musk himself confessed during Twitter/X's Q2 results in July that their advertising revenue had plunged by an eye-popping 50% since his takeover.
Wait, there's more! Among all the social media platforms, Twitter/X took the hardest punch to the gut. Why? They slashed their safety teams, unleashing a tsunami of fake news and scandalous content. Understandably, advertisers got the jitters and started yanking their ads from the platform faster than you can say "Elon Musk."
In a plot twist worthy of a Hollywood blockbuster, Twitter/X's money-making machine is on the brink of a meltdown, and Musk's bold takeover is at the heart of the storm. The drama continues to unfold in the ever-enthralling world of social media.
Take a look at the graphics below for more insights:
Read next: Amazon and TikTok Are Keeping This Top Google Exec Up at Night
Okay, so, there's this secret sauce in the digital advertising world known as CPM (Cost Per Thousand Impressions). Think of it as the glittering treasure map guiding advertisers to the most valuable ad spaces. When CPM is low, it's like a fire sale, and the money faucet sputters. When it's high, it's like printing cash – especially during events like Black Friday.
But here's the kicker – a bombshell report has surfaced, unveiling a staggering 75% nosedive in Twitter/X's CPM since Musk's coronation in October 2022. Brace yourselves, because the CPM hit an all-time low at a mere $0.65 in August 2023, plummeting from its September 2022 peak of $5.77.
In a shocking twist, Musk himself confessed during Twitter/X's Q2 results in July that their advertising revenue had plunged by an eye-popping 50% since his takeover.
Wait, there's more! Among all the social media platforms, Twitter/X took the hardest punch to the gut. Why? They slashed their safety teams, unleashing a tsunami of fake news and scandalous content. Understandably, advertisers got the jitters and started yanking their ads from the platform faster than you can say "Elon Musk."
In a plot twist worthy of a Hollywood blockbuster, Twitter/X's money-making machine is on the brink of a meltdown, and Musk's bold takeover is at the heart of the storm. The drama continues to unfold in the ever-enthralling world of social media.
Take a look at the graphics below for more insights:
Read next: Amazon and TikTok Are Keeping This Top Google Exec Up at Night
