Is Elon Musk’s X winning back advertisers?

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Performance Marketing World </span> February 24, 2025 </p> </header> <div class="SocialMediaPaywall"> <aside class="socialTools"> <ul> <li class="socialShare__item socialShare__item--twitter"> <a href="https://twitter.com/intent/tweet?original_referer=https%3a%2f%2fwww.prweek.com%2farticle%2f1907665&ref_src=twsrc%5etfw%7ctwcamp%5ebuttonembed%7ctwterm%5eshare%7ctwgr%5e&text=Is+Elon+Musk%e2%80%99s+X+winning+back+advertisers%3f+&url=https%3a%2f%2fwww.prweek.com%2farticle%2f1907665%2felon-musks-x-winning-back-advertisers&via=PRWeekUS" target="_blank" class="socialShare__link socialShare__link--twitter">Share article on Twitter</a> </li> <li class="socialShare__item socialShare__item--facebook"> <a href="https://www.facebook.com/sharer/sharer.php?u=https%3a%2f%2fwww.prweek.com%2farticle%2f1907665&quote=Is+Elon+Musk%e2%80%99s+X+winning+back+advertisers%3f+" target="_blank" class="socialShare__link socialShare__link--facebook">Share article on Facebook</a> </li> <li class="socialShare__item socialShare__item--linkedin"> <a href="https://www.linkedin.com/sharing/share-offsite/?url=https%3a%2f%2fwww.prweek.com%2farticle%2f1907665" target="_blank" class="socialShare__link socialShare__link--linkedin">Share article on LinkedIn</a> </li> </ul> </aside> </div> <figure> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/1272/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg" alt="" srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/460/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg 460w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/750/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg 750w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/500/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg 500w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/1272/cached.offlinehbpl.hbpl.co.uk/news/ORP/Twitter-X-value-GettyImages-RM-2199993213-CUS.jpg 1272w" sizes="(min-width: 1024px) 1272px, (min-width: 768px) 500px, (min-width: 480px) 750px, (min-width: 320px) 460px, (min-width: 0px) 300px, 1272px" /> <figcaption>(Photo credit: Picture Alliance/Getty Images). </figcaption> </figure> <div id="articleBody" class="ArticleBodyPaywall"> <p>BASTROP, TX: X is <a href="https://www.cnn.com/2025/02/20/tech/elon-musk-x-valuation/index.html#:~:text=Bloomberg%20on%20Wednesday%20reported%20that,will%20actually%20fetch%20that%20valuation." target="_blank" rel="noopener">reportedly</a> in talks with investors to raise money at a $44 billion valuation, which is the same price that <a href="https://www.nytimes.com/2022/10/27/technology/elon-musk-twitter-deal-complete.html" target="_blank" rel="noopener">Elon Musk paid in 2022</a> to acquire the social media platform, then known as Twitter, despite user and advertiser losses. </p><p>This marks the first known investment round since Musk took X private, but talks are in progress and could change or be abandoned in the future.</p><p>Fidelity Investments had previously marked down its Twitter stake by 70% from the purchase price. However, Musk’s alignment with President Donald Trump has shifted investors’ perceptions of X’s prospects. </p><p>Since Trump’s election, Tesla shares have been up 40%. X’s 2024 earnings and revenue also appeared to have stabilized, which was partly due to an election-related ad boost and Morgan Stanley successfully selling $3 billion of X’s debt without a discount, signalling increased investor confidence.</p><p>In addition to increased confidence from investors, X is also winning back advertisers on its platform. Last week, Apple said that it has restarted ad campaigns on the social media platform after pulling ads in late 2023 over brand safety concerns. </p><p>While many advertisers pulled away from X’s platform, 50% of the top advertisers on X as of January 2025 were new, including brands like Temu, NFL, DraftKings, Amazon, and Dell. </p><p>However, X is experiencing a decline in revenue despite its growth as its U.S. ad revenue dropped by 28% in 2024, according to MediaRadar, despite a 15% year on year growth in advertiser count. </p><div id="advertCentre"><div id="c501Ad" class="commercialSlot" data-location-code="C" data-sizes="fluid|300x250"></div> </div><p>X <a href="https://www.npr.org/2025/02/01/nx-s1-5283271/elon-musk-lawsuit-advertisers-boycott-new" target="_blank" rel="noopener">recently took legal action</a> against companies including Lego and Nestle, accusing them of engaging in an "illegal" boycott of the social media platform. Filed last year, the suit initially targeted the World Federation of Advertisers and other brands. </p><p><i>This story first appeared on <a href="https://www.performancemarketingworld.com/article/1907071/elon-musks-x-winning-back-advertisers-talks-underway-raise-44bn-match-buying-price" target="_blank" rel="noopener">Performance Marketing World</a>.</i></p> </div> <div id="articleEnd"></div> </div> <aside id="articleTags" class="related genericModule articleModule"> <header> <h2>Subject Tags:</h2> </header> <ul> <li><a href="/search/articles?KeyWords=X" title="More X articles">X</a></li> <li><a href="/search/articles?KeyWords=Twitter" title="More Twitter articles">Twitter</a></li> <li><a href="/search/articles?KeyWords=%22Elon+Musk%22" title="More Elon Musk articles">Elon Musk</a></li> <li><a href="/search/articles?KeyWords=%22World+Federation+of+Advertisers%22" title="More World Federation of Advertisers articles">World Federation of Advertisers</a></li> <li><a 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Images used with permission." srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Kinetic_Marketing_UWP.jpg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/Kinetic_Marketing_UWP.jpg 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/Kinetic_Marketing_UWP.jpg 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/Kinetic_Marketing_UWP.jpg 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/Kinetic_Marketing_UWP.jpg 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907850/two-pr-vets-launch-kinetic-marketing-communications" data-url="https://www.prweek.com/article/1907850" data-id="1907850" title="Two PR vets launch Kinetic Marketing Communications">Two PR vets launch Kinetic Marketing Communications</a> </h3> </div> </div> <div class="storyContent" data-list-id="5"> <figure class="thumbnail"> <a href="/article/1907849/abbott-confronts-diabetes-stigma-above-bias-spot" title="Abbott confronts diabetes stigma with Above the Bias spot"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png" alt="Photo credit: Abbott / YouTube." srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/Bias_Abbott_SC-PRW.png 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907849/abbott-confronts-diabetes-stigma-above-bias-spot" data-url="https://www.prweek.com/article/1907849" data-id="1907849" title="Abbott confronts diabetes stigma with Above the Bias spot">Abbott confronts diabetes stigma with Above the Bias spot</a> </h3> </div> </div> <div class="storyContent" data-list-id="6"> <figure class="thumbnail"> <a href="/article/1907782/breakfast-briefing-5-things-pr-pros-know-tuesday-morning" title="Breakfast Briefing: 5 things for PR pros to know on Tuesday morning"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg" alt="Breakfast Briefing: 5 things for PR pros to know on Tuesday morning" srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/PRW-Breakfast-Briefing-v1-Tuesday_38.jpg 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907782/breakfast-briefing-5-things-pr-pros-know-tuesday-morning" data-url="https://www.prweek.com/article/1907782" data-id="1907782" title="Breakfast Briefing: 5 things for PR pros to know on Tuesday morning">Breakfast Briefing: 5 things for PR pros to know on Tuesday morning</a> </h3> </div> </div> <div class="storyContent" data-list-id="7"> <figure class="thumbnail"> <a href="/article/1907768/salvador-tech-brings-red-lorry-yellow-lorry-us-pr-aor" title="Salvador Tech brings on Red Lorry Yellow Lorry as US PR AOR"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg" alt="(Photo credit: Getty Images). " srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/cybersecurity_G_RF_PRW_2180419823.jpg 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907768/salvador-tech-brings-red-lorry-yellow-lorry-us-pr-aor" data-url="https://www.prweek.com/article/1907768" data-id="1907768" title="Salvador Tech brings on Red Lorry Yellow Lorry as US PR AOR">Salvador Tech brings on Red Lorry Yellow Lorry as US PR AOR</a> </h3> </div> </div> <div class="storyContent" data-list-id="8"> <figure class="thumbnail"> <a href="/article/1907689/flowers-communications-group-ups-jasmine-flowers-mazyck-brinton-flowers-managing-partners" title="Flowers Communications Group ups Jasmine Flowers Mazyck, Brinton Flowers to managing partners"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG" alt="L-R: Brinton Flowers and Jasmine Flowers Mazyck. (Tarik Dennie for Rikureels Studios). " srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/FCG_Leaders_UWP_PRW.JPG 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907689/flowers-communications-group-ups-jasmine-flowers-mazyck-brinton-flowers-managing-partners" data-url="https://www.prweek.com/article/1907689" data-id="1907689" title="Flowers Communications Group ups Jasmine Flowers Mazyck, Brinton Flowers to managing partners">Flowers Communications Group ups Jasmine Flowers Mazyck, Brinton Flowers to managing partners</a> </h3> </div> </div> <div class="storyContent" data-list-id="9"> <figure class="thumbnail"> <a href="/article/1907678/msl-us-hires-nicole-messier-corporate-reputation-md" title="MSL US hires Nicole Messier as corporate reputation MD"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg" alt="MSL US hires Nicole Messier as corporate reputation MD" srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/Nicole-Messier-headshot-UWP-PRW.jpg 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907678/msl-us-hires-nicole-messier-corporate-reputation-md" data-url="https://www.prweek.com/article/1907678" data-id="1907678" title="MSL US hires Nicole Messier as corporate reputation MD">MSL US hires Nicole Messier as corporate reputation MD</a> </h3> </div> </div> <div class="storyContent" data-list-id="10"> <figure class="thumbnail"> <a href="/article/1907683/woodrow-expands-us-hires-former-ogilvy-pr-boss-stuart-smith" title="Woodrow expands in US, hires former Ogilvy PR boss Stuart Smith"> <img src="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg" alt="Stuart Smith is joining Woodrow in an advisory role. (Image via Smith, used with permission). " srcset="https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/300/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg 300w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/350/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg 350w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/400/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg 400w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/450/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg 450w, https://cached.imagescaler.hbpl.co.uk/resize/scaleWidth/370/cached.offlinehbpl.hbpl.co.uk/news/ORP/Stuart_Smith.jpeg 370w" sizes="(min-width: 1024px) 370px, (min-width: 768px) 450px, (min-width: 480px) 400px, (min-width: 320px) 350px, (min-width: 0px) 300px, 300px" /> </a> </figure> <div class="contentWrapper"> <h3> <a href="/article/1907683/woodrow-expands-us-hires-former-ogilvy-pr-boss-stuart-smith" data-url="https://www.prweek.com/article/1907683" data-id="1907683" title="Woodrow expands in US, hires former Ogilvy PR boss Stuart Smith">Woodrow expands in US, hires former Ogilvy PR boss Stuart Smith</a> </h3> </div> </div> </div> </section> </div> </div> </div> </div> <div id="gridBottom" class="grid1"> <div class="zone">  <div class="textHtmlModule"> <style> .tiktok-embed:before, .tiktok-embed:after{display: none;} </style> </div> </div> </div> </section> </div> <div id="advertBodyBottom"> <div id="f201Ad" class="commercialSlot" data-location-code="F" data-sizes="600x300|728x90"></div> <div id="x601Ad" class="commercialSlot" data-location-code="X" data-sizes="1x1"></div> <div id="x602Ad" class="commercialSlot" data-location-code="X" data-sizes="1x1"></div> <div id="x603Ad" class="commercialSlot" data-location-code="X" data-sizes="1x1"></div> <div id="z100Ad" class="commercialSlot" data-location-code="Z" data-sizes="120x597"></div> <div id="d300Ad" class="commercialSlot" data-location-code="D" data-sizes="970x90|990x90|980x90|728x90"></div> </div> </div> </div> <hr 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