In 2022, Twitter’s advertising revenue was around $4bn. Insider Intelligence estimates this year it will drop to $1.9bn. The company has two major outlays. The first is its staffing bill. Musk has cut X to the bone already, laying off thousands. The second is servicing the loans Musk took out to buy Twitter, totalling about $13bn. The companies paused adverts after an investigation by a US organisation, Media Matters for America, flagged ads appearing next to pro-Nazi posts. X fiercely challenged the report, questioning its research methods, and launched a lawsuit against the organisation. Elon Musk’s profane attack on advertisers boycotting X, formerly known as Twitter, has baffled experts. If advertisers keep leaving and don’t come back, can X survive?

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