TECH - Contrary To The Claims By Elon Musk Linda Yaccarino World's Top Advertisers Abandon X: Report | Benzinga
In a surprising turn of events, recent data unveiled a significant drop in advertising expenditure on Elon Musk’s social media platform X (formerly Twitter) by some of the world’s leading advertisers – contradicting statements made by the tech billionaire and Linda Yaccarino.
What Happened: Data from Ebiquity, a marketing consultancy firm, indicated that most of the world’s major advertisers have ceased spending on X. Business Insider reported on Sunday that only two out of the 70 top advertisers on X had purchased ads last month.
The data contradicts X’s CEO and Musk’s claims that 90% of the platform’s significant advertisers had returned. “This is a drop we have not seen before for any major advertising platform,” commented Ruben Schreurs, Ebiquity’s chief strategy officer.
It was previously reported that some of X’s biggest clients, including Amazon, Unilever, Coca-Cola, and IBM, have significantly cut their ad expenditure on X over the past year due to various concerns.
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