Despite reports of limited growth for X, the platform itself is new. Olympics engagement reaches record highThe Company aims to showcase the advertising opportunities available to its partners.
And X really needs these partners to run more campaigns. Recent reports suggest that X’s overall revenue is down about 50% year-over-year, and has continued to decline since it changed its name to X.
So X is hoping the Olympics will bring a ray of hope to its advertising business, with new engagement figures driving interest.
According to X:
“Audiences from all over the world tuned in to X to join the vibrant conversation. Fans, commentators, brands, and athletes all pitched in to share memes and reactions to the monumental Opening Ceremony.“
That interest has now spilled over into the Olympics itself, with X noting that 87% of users plan to follow the event.
To help brands capitalise on the Olympic excitement, X has launched a new ‘Portal to Paris’ activation, showcasing all the trends and clips from the Olympics in a dedicated space.
The video element is a bit problematic, but Elon Musk, the owner of X, Criticizing the International Olympic Committee’s (IOC) restrictions on video clips From the event.
So, challenging the IOC tends not to end well for those who try them, but of course, give it a go.
But as something X can host, “Portal to Paris” offers a focused space designed to encourage more engaged engagement.
X says brands can take advantage of this by advertising within the stream and using its new “Trend Genius” advertising service. Display your ads alongside trending topics.
“Brands can manually select the conversation topics they want to align with, such as an athlete, a sport or a sponsored team. Then, when conversations around those topics reach a high level or velocity organically on X, ads with pre-programmed creative will automatically be deployed on the platform.“
As mentioned above, the Olympics represent a key opportunity for X, which has struggled to win back advertisers who remain wary of running promotions within the app.
According to a recent report in the New York Times, X is relying heavily on the Olympics to boost advertising revenue, and would ideally like the surrounding buzz to attract more advertisers.
It will be interesting to see how much better X performs as the game progresses over the coming weeks.