Elon Musk Decision to approve “Toxic Material” on X. The spending comes as advertisers prepare to cut their spending on the platform in the name of free speech.
More than a quarter — or 26% — of advertisers surveyed by market research firm Kantar say they plan to cut their spending next year, according to a report seen by Business Insider.
Kantar also found that only 4% of 1,000 marketing professionals from ad agencies and media companies interviewed for the study felt that X Ads provided brand protection, in stark contrast to 39% for Google.
Overall trust with marketers for X ads has nearly halved since 2022, from 22% to 12%. However, according to Kantar, X’s consumer ad choice has grown “significantly” since then.
Since Musk took over in 2022, major brands and multiple ad agencies have pulled their content from X and Approved controversial content on the platform.
Disney Other companies including Apple, IBM, Warner Bros. Discovery and Lionsgate stopped spending on X in November after Musk curbed their ad spending. Appeared to support the anti-Semitic post.
That same month, Musk told companies that had pulled their ads from X “Fuck yourself” During an interview for The New York Times’ DealBook Summit.
X then filed suit against a group of advertisers in August, alleging that they violated antitrust laws by ganging up on the social media company in an advertising boycott.
X did not immediately respond to Business Insider’s request for comment, which was made outside normal business hours.
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