X set for first advertising revenue growth since Musk’s acquisition

Elon Musk-owned social media platform X is on track for its first year of advertising revenue growth since the billionaire acquired the company in 2022, according to new data from research firm Emarketer.

In 2025, X's U.S. advertising revenue is projected to grow 17.5% to $1.31 billion, while global ad sales are expected to rise 16.5% to $2.26 billion. The platform has seen a return of advertisers, including small- and medium-sized businesses, a segment it previously struggled to attract.

Despite the anticipated growth, X’s ad business remains smaller than it was before Musk’s takeover. In 2021, when it was publicly traded, the company reported ad revenue of $4.51 billion.

As a private entity, X does not disclose financial figures.

The broader digital advertising market faces challenges, with platforms like Instagram and TikTok competing for ad spending amid economic uncertainty and potential U.S. tariffs. Investment firm MoffettNathanson recently lowered its U.S. ad growth forecast to 5.8% from 6.9%, citing disruptions caused by federal policy changes.

While X’s projected growth signals a rebound, its long-term position in the competitive ad landscape remains uncertain.