X, the social media company formerly known as Twitter, could lose as much as $75 million in advertising revenue by the end of the year as dozens of major brands pause their marketing campaigns after its owner, Elon Musk, endorsed an antisemitic conspiracy theory this month.
Internal documents viewed by The New York Times this week show that the company is in a more difficult position than previously known and that concerns about Musk and the platform have spread far beyond companies including IBM, Apple and The Walt Disney Co., which paused their advertising campaigns on X last week. The documents list more than 200 ad units of companies from the likes of Airbnb, Amazon, Coca-Cola and Microsoft, many of which have halted or are considering pausing their ads on the social network.
The documents come from X’s sales team and are meant to track the impact of all advertising lapses this month, including those by companies that have paused and others that may be at risk of doing so. They list how much ad revenue X employees fear the company could lose through the end of the year if advertisers do not return.