Uh oh, Elon: Half of European marketers plan to cut spending on X ads

The advertising exodus from X is set to accelerate. In 2025, almost half of marketers in Europe and North America plan to cut their spending on the platform.

That’s according to a new study from Kantar, a market research firm based in the UK. The company found that trust in ads on X is now “historically low.”

Unsurprisingly, the company’s reputation has plummeted under the leadership of Elon Musk.

When Musk bought the platform in 2022, trust from marketers stood at a worrying 22%. Two years later, it’s down to a dismal 12%.

Trust isn’t their only concern. Only 4% of marketers now think adverts on X provide brand safety.

Gonca Bubani, Kantar’s global media director, believes a swift turnaround is unlikely.

“X has changed so much in recent years and can be unpredictable from one day to the next,” she said. “It’s difficult to feel confident about your brand safety in that environment.”

What’s next for ads on X?

Advertisers have fled X in droves since Musk’s takeover. The platform’s rampant hate speech and conspiracy theories have been blamed for their departures.

Their exits have wrecked the company’s finances. Last year, Musk said advertising revenues were down 60%. The tricky task of bringing them back was given to new CEO Linda Yaccarino.

A former NBCUniversal advertising chief, Yaccarino swiftly prepared an array of new measures, from wooing celebrities to launching video ads.

She also wanted staff to leave their desks and persuade big brands in person — a tactic she called  “hand-to-hand combat.” But Musk had another fight in mind.

At a conference in November, he had a message for advertisers fleeing the platform.

“Go fuck yourself. Is that clear? I hope it is,” he said. “That’s how I feel. Don’t advertise.”

Many of them honoured his request. So many, in fact, that Musk sued them over an alleged “illegal boycott.”

Whether illegal or not, their boycott shows no signs of ending. A net 26% of marketers plan to reduce their spend in 2025 — the biggest recorded pullback from any major global ad platform.

The biggest losses are set to come from North America (48.5%) and Europe (47.6%). Beyond those continents, the forecast isn’t quite so bleak — but there are no bright spots.

In Asia Pacific, 6.8% of marketers plan to decrease ad spending, according to Kantar. Across Africa and the Middle East, the figure is a marginally worse 8.5%.

In Latin America, meanwhile, 12.8% of marketers expect to cut their spend. But that percentage could soon tumble. Last week, X was blocked in Brazil — the largest country in the region.

Good luck, Linda.