X records high engagement numbers for the 2024 Olympics

Despite reports of limited growth at X, the platform is seeing record-high engagement numbers for the Olympics, showcasing the ad placement opportunities this provides for its partners.

According to 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.”

This interest has carried into the Games, with X reporting that 87% of its users plan to follow the event.

To help brands leverage the Olympics excitement, the platform has introduced a new 'Portal to Paris' activation, showcasing all the Olympics trends and clips in one dedicated space.

While the video aspect is challenging, as X owner Elon Musk has criticised the International Olympic Committee’s (IOC) restrictions on event video clips, X states that brands can leverage this by advertising within the stream and utilising its new 'Trend Genius' ad offering to place their ads alongside trending topics.

The Olympics represents a crucial opportunity for X, which is currently struggling to attract advertisers who are hesitant to place their promotions on the app. Additionally, as highlighted in a recent New York Times report, X is heavily relying on the Games to increase its ad revenue, hoping that the associated buzz will ideally attract more advertiser interest.

Recent reports suggest that the platform earned $114 million in U.S. revenue in Q2, a 25% decrease from Q1 and a 53% decline from the previous year.