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EMARKETER

X Ad Revenue Forecast 2025

Ad Spend on the Platform Will Grow for the First Time Post Musk Acquisition

Report by Jasmine Enberg  |  May 2, 2025
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Report
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Table of Contents
Executive Summary
X’s ad business is recovering, but its return to growth is complicated
X’s advertiser base is expanding and diversifying
X is shipping new features for users and advertisers
The content moderation landscape is rapidly evolving
What it means for advertisers
Sources
Media Gallery
About This Report
X’s ad business is beginning to recover. But the return to growth is complicated, and there’s still a long road ahead for X’s ad revenues to reach pre-Elon Musk levels.
Topics
Social Media Ad Spending
Worldwide
Table of Contents
Executive Summary
X’s ad business is recovering, but its return to growth is complicated
X’s advertiser base is expanding and diversifying
X is shipping new features for users and advertisers
The content moderation landscape is rapidly evolving
What it means for advertisers
Sources
Media Gallery

X’s ad business is recovering, but it’s too soon to call it a rebound. Even as brands return and new advertisers start spending, X’s ad revenues will still be smaller in 2025 than they were prior to Elon Musk’s acquisition.

Key Question: What’s driving the growth in X’s ad business and how should advertisers respond?

X's Ad Business Will Start to Turn Around in 2025 but Will Remain Roughly Half Its 2021 Size (billions in X (formerly Twitter) ad revenues worldwide and % change, 2021-2027)
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Key Stat: X’s worldwide ad revenues will rise by 16.5% YoY in 2025, two years after plummeting by 51.7%, per our latest forecast.

This report can help you: develop media strategy and allocate budget for campaigns (brands and agencies)

Here’s what’s in the full report

1file

Exportable files for easy reading, analysis and sharing.

10charts

Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Executive Summary
  2. X’s ad business is recovering, but its return to growth is complicated
  3. X’s advertiser base is expanding and diversifying
  1. X is shipping new features for users and advertisers
  2. The content moderation landscape is rapidly evolving
  3. What it means for advertisers
  1. Sources
  2. Media Gallery

Charts in This Report

X's Ad Business Will Start to Turn Around in 2025 but Will Remain Roughly Half Its 2021 Size (billions in X (formerly Twitter) ad revenues worldwide and % change, 2021-2027)X's US Ad Revenue Growth Will Outpace That of Many of Its Rivals in 2025 (% change in US ad revenues of select social/video platforms, 2025)
X's US Ad Business Will Be Bigger Than Reddit's in 2025, but a Fraction of Meta's (billions in US digital ad revenues of select social/video platforms, 2025)Despite Continued Losses, X Will Still Have Close to 350 Million Monthly Users Worldwide in 2025 (millions in X (formerly Twitter) users worldwide and % change, 2022-2025)
X Generates the Lion's Share of Its US Ad Revenues From Video (billions in US X (formerly Twitter) video ad revenues and % of total X ad revenues, 2021-2027)X's Expected ROI for Advertisers Has Improved, but It Still Lags That of Many of Its Peers (average times ROI expected from select social platforms according to US ad buyers, Dec 2022 & Dec 2024)
Daily Usage of TikTok, X (Formerly Twitter), and Snapchat Among US Adults, 2022-2024 (% of respondents)X Monetization Is Bouncing Back, but Its Social Ad Revenues per User Will Still Lag Its Rivals' (ad revenues per user worldwide on select social networks, 2021-2026)
Many Social Platforms Have Adopted User-Led Content Moderation Programs (platforms along the spectrum of community-led to platform-led moderation, 2025)US Unique Visitors to X (Formerly Twitter) and Bluesky, Oct 2023-Oct 2024 (millions)

authors

Jasmine Enberg

Contributors

Rahul Chadha
Director, Report Editing
Vladimir de Leon
Chart Editor
Zach Goldner
Senior Forecasting Analyst
Penelope Lin
Director, Data Visualization
Minda Smiley
Paul Verna
VP, Content
Ali Young
Senior Copy Editor and Manager of Content Operations
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