A push by Elon Musk’s X to bring in $100mn from political advertising in 2024 is being met by scepticism from industry insiders, hitting its hopes of offsetting revenue losses caused by big brands leaving the platform.
Earlier this year, X’s billionaire owner reversed a ban on political advertising instituted by former chief executive Jack Dorsey, a move designed to align with Musk’s stance as a “free speech absolutist”.
It has since increased its investment in the space, including hosting a recent event with about 100 existing and prospective political clients in Washington to promote its advertising services.
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