CEO Linda Yaccarino Predicts X to be Profitable in 2021

In the past year, X (previously known as Twitter) has experienced numerous transformations. The acquisition of the microblogging platform by Elon Musk has sparked controversy since its inception, with critics deeming actions like verification removal and temporary tweet view limitations as excessive. Despite Musk appointing Linda Yaccarino as the new CEO, public perception of the Musk-owned company remains unchanged, as its competitor Threads gained significant popularity upon its launch by Meta.

Despite this, X can turn profitable next year and most of its best advertisers have returned, according to the CEO.

About profits and advertisers

According to a report from The Verge, at Code Conference 2023, CNBC senior media and technology correspondent Julia Boorstin joined X CEO Linda Yaccarino for a discussion. Yaccarino revealed that from an “operating cash flow” perspective, X is “pretty much breakeven.” However, it may even turn profitable next year, as the CEO mentioned: “We will make a profit”.

Yaccarino was also asked about advertisers who have left the platform before. He revealed that 90 percent of all top 100 advertisers have now returned to X, with 1,500 returning in the past 12 weeks.

What about uploading users?

In a conversation with Israeli Prime Minister Benjamin Netanyahu last week, Elon Musk highlighted the issue of bots on X and how to “move to a small monthly fee” that all users would have to pay to access the platform. At Code Conference 2023, a CNBC correspondent asked Yaccarino the same thing, though he brushed the question aside. “Did he say we’re going to go into it specifically, or did he say that’s the plan?” Yaccarino said.

Boorstin then asked if this move was actually discussed before Musk revealed it, to which Yaccarino replied, “We talk about everything.”

About Musk and the Anti-Defamation League

Musk has recently hit the headlines again when he blamed the Anti Defamation League (ADL), a non-profit organization that fights anti-Semitism and extremism, for a 60 percent drop in revenue, claiming it pushed advertisers away from the platform. Musk also announced that he will file a defamation lawsuit against the very organization fighting this issue.

In an X message on September 5, Musk announced: “To claim our platform’s name on anti-Semitism, it seems we have no choice but to file a defamation lawsuit against the Anti-Defamation League…oh the irony!”

When asked about this controversy, Linda Yaccarino said, “I wish it was different. We’ll figure it out.”