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Most of the world's biggest advertisers have stopped buying ads on Elon Musk's X, exclusive new data shows
(www.businessinsider.com)
this post was submitted on 24 Oct 2023
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Ebiquity, which works with 70 of the top 100 top-spending advertisers, according to media research company COMvergence, said that just two of its clients had purchased ads on X last month.Ebiquity said its analysis appears to contradict statements made by X CEO Linda Yaccarino who said in an on-stage interview last month that "90% of the top 100 advertisers have returned to X in the last twelve weeks alone."
An X spokesman clarified that the 90% figure referred to X's 100 top spenders from the prior year, and declined to publicly comment about Ebiquity's findings.
Twitter's largest clients have typically also been among the biggest spending global advertisers, such as Amazon, Unilever, Coca-Cola, and IBM, Bloomberg previously reported, citing data from the analytics firm Sensor Tower.
A number of advertisers have stopped or drastically reduced their spending on X over the past year, amid concerns about the content it hosts and the general reliability and effectiveness of its ad platform.
A review of data from Sensor Tower conducted by progressive watchdog group Media Matters found that while some advertisers had technically returned to purchasing ads on X, they were doing so at just a fraction of the level of their previous spend.
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