X's struggles in the advertising market are evident, with ad spend from top 100 advertisers plummeting 68% in early 2024 compared to 2022 before Musk's acquisition.
Musk's aggressive approach includes legal action against brands and advertising agencies he accuses of boycotting X; this has drained resources from involved parties and is seen as detrimental.
Despite the significant drop in ad revenue to an estimated $1.9 billion for 2024, Musk continues working to regain lost advertisers while publicly targeting those who pull back.
Only 7 out of the top 200 advertisers that stopped advertising at the end of 2022 have returned in 2024, with new advertisers spending significantly less.
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