Faced with a typically tough Q1, negative momentum continued as expected for Akamai’s core content delivery segment, with an 11% year on year revenue slump to $351.8 million. The continued erosion of CDN revenues is not news in itself, yet things are about to get much worse on the CDN front – with Akamai rebuffing internal projections for delivery revenue to decline at a faster rate in 2024 than originally expected. One monster social media customer of Akamai is singlehandedly responsible for this forecast alteration, after implementing optimizations that have either completely severed Akamai’s CDN services, or dramatically reduced its reliance on them. The anonymous social media client has reduced overall traffic, scaling back its video presence to preserve cash…