Linda Yaccarino, chief executive officer of X, formerly known as Twitter, said that this social network could become profitable again by the beginning of 2024.
According to the head of this firm, which was acquired by billionaire Elon Musk last year, the positive financial performance of the virtual platform is a likely prospect and a real scenario for the future, since the brand is currently gaining advertisers back.
During a speech at Vox Media’s annual code conference last Wednesday, September 27, Linda Yaccarino said that X is an absolutely safe place for manufacturers of goods and services. She also defended the content published on this social network. According to her, 90% of the 100 largest advertisers have returned to the virtual platform. She noted that in the last 12 weeks alone, about 1,500 people have resumed commercial interaction with the social network.
Linda Yaccarino, who before working at X headed the advertising department of NBC Universal, was personally chosen by Elon Musk for the current position to restore acceptable amounts of cooperation with advertisers. After the billionaire became the owner of the social network last year, researchers announced a sharp increase in the amount of malicious content on this virtual platform. Against the background of these statements, advertisers began to massively refuse to cooperate with X. This process has become a kind of trend that has become very large-scale by the standards of the corporate space. In September of this year, Elon Musk admitted that the income received by the social network as a result of the placement of advertising materials showed a decrease, which was recorded at the level of 60%.
Yoel Roth, Twitter’s former head of trust and security, also spoke at the Vox Media conference. He said that the activities of Linda Yaccarino as head of the social network will help restore the trust of advertisers. According to him, it is good for a company to have a reasonable, tenured, and respected leader. Yoel Roth noted that to restore the interaction of advertisers, it is necessary to provide evidence that results have been achieved on the way to improving the level of security, which, as he believes, the virtual platform cannot do.
Linda Yaccarino said that Twitter worked based on a different strategy during Mr. Roth’s leadership, noting that X is a new company that adheres to the concept of freedom of expression in terms of ideological orientation. She also expressed disagreement with the claims that the social network in its current state is a space that is not hospitable to advertisers.
At the same time, X and Elon Musk continue to create reasons for various kinds of claims and accusations. For example, members of the groups for ensuring trust, security, and integrity of elections were dismissed. The company also sued a research organization that claimed that malicious content was being distributed on the social network. Elon Musk denies these accusations, stating his intention to achieve the truth in legal proceedings on the fact of libel.
Linda Yaccarino says that X has collaborated with independent companies to evaluate information materials that are published on the virtual platform. She also stated that employees were hired in the sales, partnership, and brand security departments. Separately, Linda Yaccarino reported that the social network takes the issue of the integrity of the election process seriously and takes measures to counter the spread of narratives of anti-Semitic thematic.
As we have reported earlier, Elon Musk Admits Possibility of Paid Access to X.