News

X’s UK profits collapsed the year after Elon Musk’s takeover

Digital media | The Guardian · Ben Quinn · last updated

Social media platform formerly known as Twitter says 66.3% revenue drop was down to fall in advertising income

X’s revenues and profits collapsed in the UK in the year after Elon Musk took over the social media platform, the company has admitted.

A decline in advertising spending amid concerns about “brand safety and/or content moderation” were cited as the reason for the fall, according to accounts filed this week to Companies House.

Continue reading…
View full article

Related Knowledge Center: Social media

State of Play

Social media platforms are the source of news for millions of people — and they have a fraught and ever-shifting relationship with the enterprises that provide that news.

The TikTok ban | The Meta-FTC trial

More information

here today, more tomorrow

We’ve launched briefing.center with a focus on the press and media.

And we’ve added Citizen Cartwright, a daily quick-read news summary by veteran Washington journalist Linda Cartwright. We’ve also created a new voting rights knowledge center for Citizen Cartwright subscribers. (You can sign up for a dedicated morning email at citizencartwright.com.)

You can sign up here for full access to press and media and Citizen Cartwright on briefing.center.

You can use briefing.center as the center of your information management, or just one of your tools. We’re happy to discuss your information needs.

Sign up