NEW REPORT PREDICTS A MASSIVE EXODUS OF ADVERTISERS FROM X, THANKS TO ELON MUSK
It’s hard to not have a critical opinion when it comes to Elon Musk. I can remember it only being a few years ago when I would argue with not quite retirement-aged folks who were really impressive with how smart Elon supposedly was. But I haven’t had any of those arguments since, as the wunderkind veneer rapidly disappeared, as Musk showed his true brilliance with commentary and more than questionable business strategy choices. Obviously, a lot of political polarization has happened with the man since. And now the chickens are coming home to roost, as a recent report predicts a massive exodus of advertisers from X next year.
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X HAS BECOME A CESSPOOL OF RASICM, MISOGYNY AND MISINFORMATION
As someone who never loved using or perusing Twitter, now X, I can’t say that the increased lack of it in my life has been much of a loss. But many of the people who I would have read on X left in disgust over how much of a cesspool the platform had become even 3 years ago. And, well, things haven’t gotten better. Honestly, there are too many controversies to list here involving X, and how that’s a reflection of Elon Musk directly. But with this exodus of advertisers comes the much higher risk of non-functional debt, and even less oversight of racist memes, misogyny, and political misinformation. That last, of course, has become a bit of a feature topically thanks to Musk.
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ADVERTISERS NO LONGER TRUST X TO REPRESENT THEIR BRANDS, AND WILL GO ELSEWHERE
And the recent report from marketing research firm Kantar paints a pretty bleak picture for X, offering the context of how many other major web platforms like TikTok and Netflix are increasingly trusted by advertisers, while that trust for X continues to drop. A telling line from the report says it all, with, “One brand is distinctly not well-received by marketers: X. Only 4% of marketers think X ads provide brand safety, compared to the 39% Google boasts.” That translates to an 26% of marketers planning to decrease their presence on X, if not completely. Oddly, the increasing lack of ads on X makes the current user group happy.
In other words, next year X will have fewer ads, and more rancid activity from its remaining users. Hard Pass.
