The advertising exodus from X is set to accelerate.
Thats according to a new study from Kantar, a market research firm based in the UK.
The company found thattrust in ads on X is now historically low.
Unsurprisingly, the companys reputation has plummeted under the leadership ofElon Musk.
When Musk bought the platform in 2022, trust from marketers stood at a worrying 22%.
Two years later, its down to a dismal 12%.
Trust isnt their only concern.
Only 4% of marketers now think adverts on X provide brand safety.
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Gonca Bubani, Kantars global media director, believes a swift turnaround is unlikely.
Its difficult to feel confident about your brand safety in that environment.
Whats next for ads on X?
Advertisers have fled X in droves since Musks takeover.
The platforms rampant hate speech and conspiracy theories have been blamed for their departures.
Their exits have wrecked the companys finances.
Last year,Musk saidadvertising revenues were down 60%.
The tricky task of bringing them back was given to new CEO Linda Yaccarino.
But Musk had another fight in mind.
At a conference in November, he hada messagefor advertisers fleeing the platform.
I hope it is, he said.
Thats how I feel.
Many of them honoured his request.
So many, in fact, that Musk sued themover an alleged illegal boycott.
Beyond those continents, the forecast isnt quite so bleak but there are no bright spots.
In Asia Pacific, 6.8% of marketers plan to decrease ad spending, according to Kantar.
Across Africa and the Middle East, the figure is a marginally worse 8.5%.
In Latin America, meanwhile, 12.8% of marketers expect to cut their spend.
But that percentage could soon tumble.
Last week,X was blockedin Brazil the largest country in the region.
Good luck, Linda.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
