X CEO Says Platform Will Be Profitable By Early 2024—But Dodges Questions About Musk’s Monthly Fee

Topline

X CEO Linda Yaccarino said Wednesday the social media platform formerly known as Twitter will be profitable by early 2024, claiming most top advertisers had returned after ditching the platform following Elon Musk’s takeover last year.

Linda Yaccarino, CEO, X/Twitter speaks onstage during Vox Media’s 2023 Code Conference.

Getty Images for Vox Media

Key Facts

Speaking at Vox Media’s Code Conference, Yaccarino said 90% of the platform’s top 100 advertisers have returned and 1,500 have done so “in the last twelve weeks alone.”

The X CEO said the company is “just about break even” and “it looks like” it will begin turning a profit in early 2024.

Yaccarino tried to dodge a question about Musk’s plans to charge a fee to all users for accessing the platform, by responding: “Did he say we were moving to it specifically, or he’s thinking about it?”

The interviewer, CNBC’s Julia Boorstin, noted that Musk mentioned that was the plan and asked Yaccarino if she was consulted on the decision, who responded: “We talk about everything.”

Yaccarino claimed the platform has 200 million to 250 million daily active users or “something like that,” before later saying X has 540 million monthly active users and 225 million daily active users, according to the Verge.

Yaccarino was largely dismissive of the concerns raised by X’s former head of safety Yoel Roth—who spoke before her at the event—saying the platform was “operating on a different set of rules” that bordered on censorship and X was very different.

Crucial Quote

Yaccarino repeatedly defended Musk during the interview and at one point reportedly asked the audience: “Who wouldn’t want Elon Musk sitting by their side running product?” Yaccarino also said the idea that Musk was opposed to debate or feedback is something “I haven’t experienced or I’ll say I haven’t experienced it yet.”

Chief Critic

Roth reportedly warned Yaccarino at the event: “Look at what your boss did to me…I hope she is thinking about what those risks are and what she might face,” referring to death threats he and his family faced after Musk tried to falsely insinuate that Roth was supportive of pedophilia.

Key Background

Despite Yaccarino’s optimism about Twitter’s prospects, recent comments by Musk paint a much grimmer picture as he tried to blame the Anti-Defamation League’s complaints for causing a 60% drop in ad revenue for X. After receiving widespread backlash for his comments and continued concerns about growing antisemitism on the platform, Musk sat down with Israeli Prime Minister Benjamin Netanyahu for an interview earlier this month. In that conversation, Musk blamed a majority of X’s problems on bots and said the platform is “moving to a small monthly payment” model where all users will have to pay to access the platform. As with Musk’s other sweeping proclamations about altering the platform, it was unclear if he was being serious or when a change might happen.