""The significant decrease in the performance of the company is a result of the decline of advertising revenue primarily driven by a reduction in spend from large brand advertisers due to concerns about brand safety, reputation and/or content moderation,""
""It's a mature economy and it's reflecting what's happening in the rest of the world,""
X's U.K. operations generated $39.8 million in revenue for the year ending December 31, 2024, a 58% decline from $95.2 million in 2023. Revenue had already fallen 66% in 2023 from $282.9 million in 2022. The downturn is primarily driven by reduced spending from large brand advertisers citing concerns about brand safety, reputation, and content moderation. The U.K. market represents roughly 5.3% of total revenue and serves as a mature-economy indicator for global platform health. Advertiser departures accelerated after the platform's acquisition in October 2022, and leadership adopted a combative stance toward advertisers.
Read at Fortune
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