A wave of big advertisers returns to X after leaving a year ago

After a year-long hiatus, major advertisers are returning to X. This was announced by Linda Yaccarino and Elon Musk via the platform. A large group of advertisers abandoned the platform shortly after Musk's purchase and his conversion of Twitter to X.

The large advertisers feared that the social network, which under the new management announced that there would be much broader freedom of speech, would allow the publication of hate speech and other negative content that would be associated with commercial brands.

According to X executives, IBM, Disney, Comcast, Discovery, Warner Bros. and Lionsgate Entertainment are some of the large companies that have returned. The question was on the priorities Linda Yaccarino, CEO of X Corp,  which is owned by Elon Musk.

Since coming into the role, Yaccarino has worked to keep advertisers coming back and satisfied, as this is a strong revenue base for X. When Elon Musk and his team arrived at X, they reported financial troubles at the social network, which resulted among other things in a significant wave of layoffs. To rebalance X's accounts, advertising revenue was necessary.

The return of advertisers was reported by AdWeek. Among those coming back, Comcast spent less than $1.5 million on X this year, followed by Warner Bros. Discovery at $1.1 million, Disney at less than $550,000, Lionsgate at less than $230,000 and IBM at less than $2,000.

Despite their return to the platform, advertising investments are still not significant and nowhere near the more than $170 million that these same companies spent collectively between the months of January to September 2023.

The platform generated $1.8 billion in ad revenue through the third quarter of 2024, down 29% year-over-year, from $2.5 billion in the same period last year, AdWeek reports.