How brands have reacted to changes at X
Posted: Sun Dec 22, 2024 4:30 am
His obsession with the letter "X" is evident throughout his career – X.com was his original online banking startup (which later became PayPal), and SpaceX also carries the mark. He views "X" as a universal symbol representing the future and unlimited possibilities.
It is therefore plausible that Musk is taking his playbook from his successful v usa number list entures elsewhere, including Tesla, and using it in a new industry again.
Famously, Tesla does not pay for advertising. In its company accounts, marketing costs are listed as “immaterial”. Indeed, Musk tweeted in 2019, “Tesla does not advertise or pay for endorsements. Instead, we just use that money to make the products great.”
However, not all companies are like Tesla. Most large firms spend a lot of money on digital marketing and it creates significant value for them. At X, building a great product goes hand in hand with helping brands achieve their advertising goals.
Annual revenues at X are driven almost exclusively by advertising services. However, they have fallen sharply since Musk took over.
X Annual Revenue 2017-2027 (Statista graph)
Musk is aware of the importance of advertising to his company, but he appears to
It is therefore plausible that Musk is taking his playbook from his successful v usa number list entures elsewhere, including Tesla, and using it in a new industry again.
Famously, Tesla does not pay for advertising. In its company accounts, marketing costs are listed as “immaterial”. Indeed, Musk tweeted in 2019, “Tesla does not advertise or pay for endorsements. Instead, we just use that money to make the products great.”
However, not all companies are like Tesla. Most large firms spend a lot of money on digital marketing and it creates significant value for them. At X, building a great product goes hand in hand with helping brands achieve their advertising goals.
Annual revenues at X are driven almost exclusively by advertising services. However, they have fallen sharply since Musk took over.
X Annual Revenue 2017-2027 (Statista graph)
Musk is aware of the importance of advertising to his company, but he appears to