Comment on X may lose up to $75 mln by year-end on advertiser exodus - NYT
squiblet@kbin.social 10 months agoThey have a billion of loan payments due each year. In order to pay that, someone has to come up with cash. Having a business that actually generates a profit would be the ideal way to do that.
FaceDeer@kbin.social 10 months ago
My point is that $75 million isn't a significant amount either way at the scale that X is operating on.
squiblet@kbin.social 10 months ago
Their ad revenue had already been rapidly shrinking. They brought in about 1.5 billion from advertising in 2021. After Musk gutted the company, while I'm sure expenses are lower, advertising revenue has already dropped by 70-55% depending on which source you go by. So, a generous guess is $750 million now, which would make $75 million 10%, and that is a significant drop.