Posted 2/3/2024, 2:58:00 AM
Major Advertisers Cut X Spending Over Content Concerns
- Major advertisers like McDonald's and YouTube cut spending on X, formerly Twitter, by 55% ahead of 2023 Super Bowl compared to 2022
- BetMGM reduced X ad spending by 87% despite inking partnership deal with platform
- Shift away from X ads comes amid brand safety concerns after Musk gutted safety team and reports of ads next to pro-Nazi posts
- X ad revenue dropped 54% in 2022 to $1.89 billion as prominent advertisers leave platform
- Remaining advertisers promote questionable services like AI "undressing" apps and dubious crypto amid "race to the bottom"