Despite reports of limited growth at X, the platform is celebrating new record high engagement numbers for the Olympics, spotlighting the ad placement opportunities for its partners. X is banking on the Olympics to uplift its ad business, especially amidst a backdrop of declining revenue and the struggle to attract campaign partners.
X’s Olympic Performance
X revealed that the global audience engaged profoundly during the Opening Ceremony, discussing and sharing memes and reactions on the platform. Noteworthy is that 87% of X users expressed their intent to closely follow the Games. To leverage the Olympics fervor, X introduced the “Portal to Paris” activation, giving prominence to Olympics trends and content.
Critique on Olympic Video Restrictions
Despite the upbeat engagement, X’s owner Elon Musk criticized the restrictions imposed by the International Olympic Commission on sharing video clips. Although X’s approach has limitations due to these restrictions, the “Portal to Paris” feature aims to facilitate deeper user interaction and brand engagement.
Innovative Ad Solutions for Brands
X rolled out the “Trend Genius” ad service for brands to align their ads with trending topics like athletes, sports, and sponsored teams. Brands can strategically select conversations to associate with and have their ads displayed when these topics gain momentum on X. This aids brands in targeting their desired audience and increasing visibility during peak engagement periods.
Rebuilding Advertiser Confidence
X’s struggle to regain advertiser trust seems evident from recent revenue setbacks and reservations about ad placements on the platform. With high hopes pinned on the Olympics, X aims to regain advertiser interest through the event’s buzz and discussions. The Games’ ongoing progress will be crucial in assessing X’s ad revenue recovery and advertiser appeal in the coming weeks.