X is leveraging the 2024 Paris Olympics to boost its ad revenue and regain advertiser confidence amid a significant drop in overall revenue. Despite struggling with a 50% year-over-year revenue decline since rebranding from Twitter to X, the platform is showcasing record-high engagement numbers related to the Games.
According to X, the global audience has been highly active, with fans, brands, athletes, and commentators sharing memes and reactions about the Opening Ceremony and ongoing events. X reports that 87% of its users plan to follow the Olympics on the platform, which provides a promising opportunity for advertisers.
To capitalize on the increased engagement, X has introduced the “Portal to Paris,” a dedicated space featuring Olympics trends and clips. This initiative aims to centralize content and enhance user interaction. Despite some limitations due to restrictions imposed by the International Olympic Committee (IOC) on video clips, X remains focused on driving engagement through this feature.
Additionally, X has rolled out a new advertising tool called “Trend Genius,” which allows brands to align their ads with trending topics. Brands can choose specific topics related to athletes, sports, or teams, and X’s system will automatically display pre-programmed ads when discussions around these topics gain momentum.
X is hoping that the Olympics will help attract more advertisers and improve its financial performance. The platform is placing significant emphasis on the Games to generate increased ad revenue and restore advertiser trust.
The outcome of X’s strategy will be closely watched as the Olympics progresses, with the potential to influence the platform’s ad business and overall market position.
In addition to its promotional efforts, X is also engaging with the broader Olympics narrative by fostering interactive discussions and leveraging user-generated content. The platform’s focus on creating a dynamic space for fans to engage with the Games could help boost its profile as a key destination for live events and real-time conversations. If successful, this approach might not only enhance X’s ad revenue but also solidify its reputation as a vital player in the social media landscape, particularly during high-profile global events like the Olympics.
Fans following the #Paris2024 Olympics on X are contributing to the platform’s vibrant atmosphere. As discussions about the Olympics 2024 opening ceremony and ongoing events unfold, the role of X in shaping the conversation is becoming increasingly evident. Brands and users alike are turning to X for real-time updates and interactions, making it a central hub for everything related to the Olympics. Keep an eye on X’s Twitter feed for the latest updates and trending topics throughout the Paris Olympics 2024.
