Social media platform X (previously Twitter) might flip a revenue in early 2024, Chief Govt Officer Linda Yaccarino mentioned on Wednesday, throughout a wide-ranging interview through which she defended the corporate’s progress underneath billionaire proprietor Elon Musk.
The looks at Vox Media’s Code convention comes as Yaccarino marked 100 days as CEO of the platform previously generally known as Twitter. She has confronted questions over her autonomy within the function and the corporate’s means to courtroom advertisers who’ve been cautious of the fast modifications on the platform and Musk’s controversial persona. “The rate of change and the scope of ambition at X actually doesn’t exist anyplace else,” Yaccarino mentioned.
When requested about third-party estimates that confirmed X’s energetic app customers have fallen to twenty fifth place behind Samsung’s clock app, Yaccarino mentioned key metrics round time spent on X have been “trending very, very positively,” with out offering specifics. Yaccarino added that about 1,500 advertisers have returned to the platform within the final 12 weeks, and that 90 p.c of the corporate’s high 100 advertisers have returned.
Whereas Yaccarino mentioned the corporate may very well be worthwhile subsequent 12 months, X can also be dealing with quite a few lawsuits that allege it has did not pay lease on its places of work and thousands and thousands of {dollars} in severance to 1000’s of staff who have been laid off.
Since Musk acquired the social media firm in October, X has struggled to retain advertisers who feared showing subsequent to unsuitable content material, as researchers and activist teams have reported a rise in hateful posts. Antisemitic content material on X has been a spotlight in latest weeks. Earlier this month, Musk threatened a lawsuit towards the Anti-Defamation League, accusing the nonprofit that works to battle antisemitism of primarily inflicting a 60 p.c lower in US advert income at X. Musk’s feedback got here simply days after Yaccarino met with the ADL.
Requested on Wednesday about Musk’s ADL battle, Yaccarino mentioned it was “disappointing” that the group didn’t acknowledge the progress that X has made on security. Earlier within the interview, she mentioned X launched new content material moderation instruments and options to stop adverts from showing subsequent to sure content material, which hadn’t existed earlier than the acquisition. Yaccarino additionally defended Musk’s proper to talk out on the platform. “Freedom of speech is simply profitable if somebody you disagree with says one thing you disagree with.”
— Reuters
