X UK revenues drop nearly 60% in a year as content concerns spook advertisers

4 months ago

UK revenues at Elon Musk’s X fell by almost 60% in a year due to advertiser concerns over content.
X turned off the image creation function on its AI tool Grok after outcry over explicit and violent imagery.
UK revenues dropped from £69.1m in 2023 to £28.9m in 2024, with pre-tax profits also declining sharply.
Advertising revenue decline was attributed to brand safety concerns and content moderation issues.
X has cut 80% of its UK staff since Musk's takeover, with redundancy costs exceeding £22m.
Musk's controversial statements and lawsuits against advertisers have further strained relationships.
Despite financial struggles, X claims to be a leading platform for global conversations and breaking news.
Grok's image generation feature was restricted to paying subscribers after misuse reports and regulatory threats.

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