It is Taylor Swift’s universe, and we are living in it! The songstress has become a global icon after the release of her tenth studio album ‘Midnights’ and the globe-trotting ‘Eras Tour’. During the tour, the re-release of her previous albums and new tracks garnered her huge publicity, making her a billionaire.
Recently, Time magazine named her the ‘Person of the Year’ of 2023. During her cover interview, Taylor Swift talked about the ‘Eras Tour’, her cat, and the nemesis that she had while she was climbing the rung of the ladder. The cover has garnered a lot of traction and criticism. Now, Elon Musk has given his two cents about how her popularity may decline after the cover.
Elon Musk Advices Taylor Swift That Her Popularity May Decline After The Time Magazine Cover
Taylor Swift was named the ‘Person of the Year’ in 2023 by Time magazine due to her immense contribution to keeping some economies afloat along with her stellar contribution to uplifting the music industry. After the cover, there was a mixed reaction from people for declaring the songstress the ‘Person of the Year.’
Some risk of popularity decline after this award. I speak from experience lol.
— Elon Musk (@elonmusk) December 7, 2023
However, Elon Musk took to X to congratulate Taylor Swift on achieving the feat. The billionaire was named the ‘Person of the Year’ in 2021. After congratulating the ‘1989’ singer, Elon gave a piece of advice to Taylor, saying, “Some risk of popularity decline after this award. I speak from experience lol.”
X May Be On The Verge Of Bankruptcy
Elon Musk has done more damage than good since he took over X in 2022. The tech billionaire has tried to revive the platform into his vision for “Twitter 2.0.” However, he has met with many challenges since the acquisition. The activists lobbied for advertisers to pull out advertisements. This caused the advertising revenue to plummet on X.
After layoffs and lawsuits, Elon Musk has jeopardized the future of X further with new controversies. Recently, he fueled the ‘Great Replacement Theory’ by engaging with a user who had an anti-Semitic tweet. Since then, major corporations have pulled out of advertising their products on X, further plummeting the advertising revenue.
In 2022, the advertising revenue of X was $4 billion, which dropped to $1.9 billion in 2023. Elon Musk has brought forth many changes to compensate for the loss of advertising revenue, like the $8 subscription plan.
However, Musk admitted that it was not enough. During a BBC interview, he said, “If you have a million people that are subscribed for, let’s say, $100 a year-ish, that’s $100m. That’s a fairly small revenue stream relative to advertising.”
Elon Musk has to also pay $1.3 billion in interest on the $13 billion loan he has taken to buy X, aka Twitter. There are staff bills that Elon has to pay. So, merely relying on the subscription money is not enough; Musk has to opt for another channel of revenue since advertisers are moving away from X.
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