In 2022, X (formerly Twitter) generated 4.73 billion U.S. dollars in advertising revenue. This figure is expected to drop to 2.7 billion U.S. dollars by 2027. The social platform is responsible for roughly one percent of the global ad revenue.
Social network platform in transition
Established in 2006, California-based platform X (formerly known as Twitter) ranked among the most popular social networks worldwide by number of monthly users as of late 2023. The company has undergone a profound transformation after Elon Musk's acquisition in October 2022. After the billionaire bought the platform, advertisers and marketers have closely observed every change regarding its features and policies. Due to many contradictory developments at Twitter, industry professionals have become increasingly more cautious with their investments. A prominent example was IPG - one of the world's top five advertisers - advising its customers to temporarily abstain from putting money into the platform. Another big advertiser who has also ceased ad investment in Walmart.
Social media powerhouse: Facebook
In the meantime, nearly half of the responding marketing professionals named Facebook the most important social media platform for their business. The social network giant's revenue amounted to 114 billion dollars in 2022. Although the figure was roughly 60 percent of Google's ad revenue, Meta stood further ahead of X in terms of money earned through selling ad spaces.
Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027
(in billion U.S. dollars)
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Statista. (August 25, 2023). Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 12, 2024, from https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/
Statista. "Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027 (in billion U.S. dollars)." Chart. August 25, 2023. Statista. Accessed December 12, 2024. https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/
Statista. (2023). Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 12, 2024. https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/
Statista. "Advertising Revenue of X (Formerly Twitter) Worldwide from 2017 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Aug 2023, https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/
Statista, Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/ (last visited December 12, 2024)
Advertising revenue of X (formerly Twitter) worldwide from 2017 to 2027 (in billion U.S. dollars) [Graph], Statista, August 25, 2023. [Online]. Available: https://www.statista.com/statistics/271337/twitters-advertising-revenue-worldwide/