Elon Musk, the billionaire owner of social media platform X (formerly Twitter), recently disclosed the cost of advertising on his social media platform. Musk’s revelation comes amid a series of controversies surrounding the platform.
What Happened: On Thursday, Musk took to X to share a surprising fact about the platform’s advertising costs. “Did you know that it costs as little as 3 cents per ad click on this platform? Make sure your ad is interesting and clear, just like a viral post would be and the results will amaze you,” he posted.
Why It Matters: Musk’s disclosure of the low advertising costs on X comes when the platform faces significant challenges. The platform’s struggle with adult content and content moderation has been a cause for concern among its users and impacted its advertising revenue. Musk’s revelation about the low cost of advertising may attract more businesses to the platform despite its ongoing controversies.
Despite these challenges, X has continued to make headlines. Just last week, the platform began awarding blue checkmarks to certain users, which was met with mixed reactions.
Moreover, X has been criticized for its content moderation, leading to a significant decline in its advertising revenue. The platform’s ad revenue for 2023 was projected to plummet to $2.5 billion, indicating a substantial decrease from previous years.
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