X ad revenue dropped ever since Elon Musk takeover 

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After Elon Musk took over the social media platform Twitter (X), the US ad revenue has been on a declining trend each month, says report.

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Elon Musk bought Twitter last year in October and ever since then, the app has made headlines for various controversies and shocking changes by Musk.

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Twitter went through an ad hoc rebranding process and even the app's name was changed to X and 'tweets' became 'posts'.

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After the rebranding, the app itself is going through multiple changes that users are not happy about and huge swathes of them have quit X to join rivals like BlueSky, Signal, Telegram and others.

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Recently, Reuters shared a report that said the US revenue has been declining at a staggering rate since Musk’s takeover.

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The third-party data said, “X has declined at least 55% year-over-year each month since billionaire Elon Musk bought the company formerly known as Twitter in October 2022.”

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Earlier, it was said that X was struggling to retain and gain advertisers due to the various changes after Musk's takeover.

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The U.S. ad revenue declined by 78 percent in December 2022 as compared to the same month in the previous year.

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In August, the ad revenue declined by 60%, however, X has not reacted to any of these claims so far.

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Linda Yaccarino said that the allegations were false and mentioned that 90% of the top 100 advertisers had resumed advertising on platform X.

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She also added that the platform has regained 1500 of its brand advertisers in the previous 12 weeks even though they have come back with reduced budgets.