X's UK Revenue Plummets 58% in 2024 Amid Advertiser Exodus

X Corp.'s UK operations reported a 58% revenue decline to $39.8 million in 2024, according to newly filed financial documents with UK regulators. The drop continues a catastrophic advertising exodus that began after Elon Musk acquired Twitter in October 2022, with UK revenue having already fallen 66% in 2023. The company attributed the decline to reduced spending from major advertisers due to brand safety concerns and content moderation issues. Musk's controversial public statements and lawsuits against advertisers, including a November 2023 outburst telling fleeing advertisers to "go f--k yourself," have exacerbated the crisis. X's global ad revenue has collapsed from $4.5 billion in 2022 to an estimated $2 billion in 2024, while competitors like Instagram and Snapchat posted double-digit growth.