(Reuters) -Elon Musk’s social media platform X’s 2023 ad sales are projected to fall to about $2.5 billion, Bloomberg News reported on Tuesday.
Musk had last month cursed out advertisers that have left his social media platform over antisemitic content.
A representative for X told Reuters the report “presents an incomplete view of our entire business, as the sources Bloomberg relied on for information are not providing accurate and comprehensive details”.
Several companies including Comcast and Walt Disney paused their advertisements on the platform after Musk last month agreed with a post on X that claimed Jewish people were stoking hatred against white people.
X, formerly known as Twitter, generated a little more than $600 million in advertising revenue in each of the first three quarters of the year, and is anticipating a similar performance in the current period, the Bloomberg report added citing people familiar with the matter.
Ad sales currently make up between 70% and 75% of X’s total revenue, according to the report.
(Reporting by Arsheeya Bajwa in Bengaluru and Sheila Dang in Dallas; Editing by Krishna Chandra Eluri)
