X-odus: Musk platform ‘distinctly not well received’ by marketers
Marketers’ trust in Elon Musk’s X as an effective platform for advertising has plummeted since 2022, with advertisers anxious about the “brand safety” that the controversial social media channel offers. Approval ratings for the social media channel have plummeted to minus 21 per cent, down from plus 15 per cent just two years ago, according [...]
Marketers’ trust in Elon Musk’s X as an effective platform for advertising has plummeted since 2022, with advertisers anxious about the “brand safety” that the controversial social media channel offers.
Approval ratings for the social media channel have plummeted to minus 21 per cent, down from plus 15 per cent just two years ago, according to an annual study of media platforms from Kantar, a media analysis company.
The research, which was published just weeks after Musk earned himself a direct rebuke from Keir Starmer over his incendiary comments around the recent riots, found trust among marketers in X ads has nearly halved since 2022.
It added that X was now “distinctly not well received” by the marketing industry.
Perceptions of brand safety – a term used by advertisers to refer to the chances their adverts appearing alongside unsavoury content – were also found to have collapsed. Only four per cent of marketers now think that X – once known as Twitter – provides brand safety, compared to 39 per cent for Google.
The study is yet more evidence of the turbulent relationship between advertisers and Elon Musk who, since taking over the platform in 2022, has pared back on moderation in order to foster what he sees as free speech.
In a move widely interpreted as an attempt to appease big spending firms, Musk appointed advertising boss of NBC Universal Linda Yaccarino as CEO in 2023.
But shortly after her appointment, the Tesla and SpaceX founder told a panel that advertisers who had been quitting the platform could “go f*ck themself”.
The Kantar survey, which was based on 18,000 interviews with marketing professionals conducted across 27 countries, also found that despite the abundance of new platforms and technologies in the sector, traditional channels remained the most popular.
Marketers ranked digital out of home ads and sponsored events as their two favourite channels, while out of home adverts were fourth behind online videos.
Marketers’ advertising avenue of choice was the Alphabet-owned Youtube, followed by Instagram and Google.
