In a surprising twist, tech billionaire Elon Musk’s pro-Trump super PAC, America PAC, is allocating the lion’s share of its digital advertising budget to platforms other than Musk’s own social media network, X. According to recent ad disclosures, the PAC has spent over $3 million on Facebook and Instagram ads in the past three months, dwarfing the mere $201,000 spent on X during the same period.
Musk’s $75 Million PAC Favors Rival Platforms
Despite Musk’s acquisition and rebranding of Twitter as X in 2022, his recently launched America PAC appears to be prioritizing ad placements on Meta’s platforms. Filings with the Federal Election Commission reveal that Musk has personally funded the PAC to the tune of $75 million, making its advertising choices all the more intriguing.
X Takes a Backseat in Ad Spending
From July 8 to October 1, America PAC spent just over $166,000 on 59 ads on X, generating approximately 32 million impressions. In contrast, the PAC poured more than $3 million into 1,910 Facebook and Instagram ads over a similar 90-day period. The ads primarily targeted swing states such as Pennsylvania, Georgia, Nevada, Michigan, Arizona, and Wisconsin.
YouTube Outpaces X in PAC Ad Spend
Musk’s PAC is also investing heavily in Google’s advertising ecosystem, with $1.5 million spent on 251 ads across Google and YouTube since early July. This figure is ten times the amount spent on X ads, with 80% of the Google ad budget allocated to video ads. According to Google’s disclosures, the largest share of these ads were shown in Georgia.
Targeted Ad Campaigns and Geographical Focus
Meta’s Ad Library data reveals that America PAC is targeting Facebook users based on their interests in various celebrities, organizations, and public figures, such as Kelsey Grammer, trophy hunting, Kid Rock, the Boy Scouts of America, and Joe Rogan. The PAC’s geographic focus has recently shifted, with over 25% of its ads in the past seven days targeting Pennsylvania, where Musk himself has been actively campaigning.
X’s Advertising Woes and Revenue Decline
The decision to allocate more ad dollars to rival platforms comes amidst reports of X’s struggling advertising business. Despite Musk’s efforts to diversify revenue streams through subscription products like Twitter Blue, advertising still accounted for 70-75% of X’s total revenue in 2023. However, the company experienced a nearly 50% decline in revenue compared to the previous year, largely due to a slump in ad spending.
Musk’s Million-Dollar Giveaways and In-Person Events
In addition to digital advertising, Musk has been spending lavishly on in-person events and attention-grabbing giveaways. Over the weekend, he pledged to award $1 million per day to registered voters who sign America PAC’s petition, presenting the prizes as giant novelty checks at rallies across Pennsylvania.
As the 2024 US presidential election approaches, Elon Musk’s America PAC’s advertising strategy offers valuable insights into the evolving landscape of political campaigning. With a preference for established platforms like Facebook and YouTube over Musk’s own X, the PAC’s choices underscore the challenges new social media networks face in attracting political ad dollars. As the campaign unfolds, observers will closely monitor how Musk’s PAC allocates its resources and whether its tactics ultimately translate into electoral success for the candidates it supports.
