Elon Musk's X at risk of advertiser exodus as trust dwindles, survey shows
CBSN
About one-quarter of advertisers plan to cut spending on social media site X (formerly Twitter) next year, according to a new survey of marketers by Kantar. That would mark the biggest recorded pullback from any top ad platform, the research group noted.
The findings come as X has faced an exodus advertisers for the past year, with big companies such as Apple, Coca-Cola and Disney removing paid ads from the platform in 2023. Some of those businesses cut spending with X after billionaire owner Elon Musk endorsed an antisemitic post last year.
X's ad woes have continued into 2024, with the World Bank ceasing all paid advertising on the platform earlier this month after a CBS News investigation found that the organization's ads were showing up under a racist post from an account that prolifically posts neo-Nazi and white nationalist content.
