X (formerly Twitter) has lost approximately 40% of its US advertising revenue since Elon Musk completed his acquisition and began the controversial moderation and policy changes that drove major brands including Apple, Disney, IBM, and Comcast to pull their advertising. But a striking financial reversal is underway: subscription revenue has more than tripled, and the platform's overall financial position is improving.
X Premium β the subscription tier that includes a blue checkmark, reduced algorithmic suppression, and revenue sharing for creators β has signed up 4.2 million paying US users at $8/month or $84/year. The creator revenue program has paid out over $600 million to US content creators in its first year, attracting a new generation of journalists, commentators, and video creators who had previously been primarily YouTube and Substack-focused.
X's move into financial services has also accelerated. X Money β a peer-to-peer payment product integrated directly into the app β has processed $2 billion in transactions since its launch and has received money transmitter licenses in all 50 US states, setting the stage for a broader financial services expansion.
Advertisers are gradually returning. 60% of the brands that left have resumed some level of spending, attracted by improved brand safety tools and X's unique position as the primary platform for real-time news and commentary.
