At a recent staff meeting at X, executives discussed the return of advertisers to the platform, sharing that 65% of advertisers have come back since January. However, there are still challenges ahead for Elon Musk and Linda Yaccarino, the chief executive of the company.
During the meeting, Linda Yaccarino acknowledged that while advertisers are returning, the business is still facing difficulties in the advertising space. The return of advertisers does not necessarily mean an increase in revenue, as noted by attendees of the meeting. This comes at a time when Elon Musk, the owner of the platform, is facing scrutiny over his pay package at Tesla, which is his main source of wealth. Shareholders recently approved his compensation package, despite concerns about his focus being divided between Tesla and X.
Since taking over X, Elon Musk has made significant changes to the platform, including cutting staff, reinstating banned accounts, and allowing more freedom of speech. In the past, he had discouraged advertisers from spending on X, but now Linda Yaccarino is highlighting the increase in advertising from small and medium-sized businesses on the platform.
Looking ahead, Yaccarino and Musk plan to continue their efforts to attract advertisers, with upcoming meetings scheduled with brands at the Cannes Lions festival, an advertising industry event. They aim to showcase the platform and engage with potential clients to boost advertiser confidence.
Overall, while there has been progress in attracting advertisers back to X, there are still hurdles to overcome in order to sustain and grow the advertising business. The executives remain optimistic about the future of the platform and are actively working to address challenges and build partnerships with advertisers.