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The 2024 Paris Games is a critical opportunity for X, which is struggling to win back advertisers.
Despite reports of limited growth at X, the platform itself is touting new record high engagement numbers for the Olympics, as it looks to showcase the ad placement opportunities that this provides for its partners.
And X really needs those partners to run more campaigns. Recent reports suggest that X’s overall revenue is down around 50% year-over-year, and has continued to slide since the switch to the X name.
As such, X is hoping that the OIympics provides a ray of hope for its ad business and that these new engagement figures can boost interest.
As per X:
“A global audience tuned in on X to participate in the vibrant conversation. Fans, commentators, brands, and athletes alike all joined in to share memes and reactions around the monumental Opening Ceremony.”
That interest has now led into the Games itself, with X noting that 87% of its users plan to follow the event.
In order to help brands tap into the Olympics hype, X has launched a new “Portal to Paris” activation, which highlights all of the Olympics trends and clips in a dedicated space.
Though the video element is somewhat problematic, with X owner Elon Musk criticizing the International Olympic Committee’s (IOC) restrictions on video clips from the event.
I mean, going at the IOC doesn’t tend to end well for those willing to test them, but sure, take your shot.
But for what X can host, the “Portal to Paris” provides a centralized space, designed to help drive more dedicated engagement.
X says that brands can tap into this by advertising within this stream, and by using its new “Trend Genius” ad offering to display their ads alongside trending topics.
“Brands can hand select the conversation topics they want to align with: topics like athletes, sports, or even teams they sponsor. Then, when conversation about these topics organically reaches a heightened level or velocity on X, ads featuring pre-programmed creative are automatically deployed on the platform.”
As noted, the Olympics presents a critical opportunity for X, which is struggling to win back advertisers who remain wary of placing their promotions in the app.
According to a recent report from The New York Times, X is putting a lot of reliance on the Games to boost its ad intake, with the surrounding chatter to ideally draw more advertiser interest.
It’ll be interesting to see how much X can boost its performance, as the Games goes on over the next few weeks.
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