X (formerly Twitter) has teamed up with Google Display Network to boost ad revenue and allow advertisers to utilize its wide pool of 540 million monthly users.
The deal, confirmed by Google, revealed that Elon Musk's social media platform will use Google Ad Manager to take part in online auctions and sell its inventory, as per Ad Age.
"This is an opportunity for our advertisers to reach a broader audience, but as always they can choose what sites and apps their ads run on. Any publisher who participates in this type of partnership must abide by our publisher policies," a Google Spokesperson shared in a statement.
The decision comes in light of X experiencing a 59% decline in ad revenue following the multibillionaire's takeover of the company last November.
X's Market Value Plunges 90%
Musk's decision to take over the app previously run by its creator Jack Dorsey was met with backlash and controversy from the start.
After multiple major changes to the app, thousands of layoffs, and the introduction of Twitter Blue, the platform eventually lost over half of its top 1,000 advertisers earlier this year.
These companies included retail giants such as Coca-Cola, Jeep, and Unilever. The platform's ad revenue dropped by more than 50% after this, as advertisers remained confused over X's unpredictable trajectory.
Furthermore, the platform's value reportedly dropped by up to 90% from $44 billion to an estimated $4 billion, according to Fortune.
Nonetheless, Musk and X's new CEO Linda Yaccarino have been working hard to find ways the platform can generate more income.
Aside from its latest partnership with Google Ads, X has been taking care of its creator relations by making it easier for them to make money in the app through the Creator Ads Revenue Sharing Program that it launched in July.
With this, eligible content creators can get a cut of the platform's ad revenue depending on the number of replies they get with each post—all they have to do is subscribe to X Premium.
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