Advertising

Nearly 300 brands cut X advertising

Capitol CommunicatorNovember 23, 20231 min read

Of nearly 261 companies that spent over $1 million on advertising on X/Twitter from January 2022 to October 2023, 86% of them have reduced ad spending on the platform, according to estimates from MediaRadar, reports MediaDailyNews.

Brand-safety concerns remain a major problem, according to the advertising research firm.

According to MediaDailyNews: “Top ten advertisers — including AT&T, Coca-Cola, General Motors, Capital One, Nike, and Bank of America — have reduced spending by 70% to 97%, according to the report.

“AT&T was down 97%, while Coca-Cola was down 96%, and General Motors was down 93%.

“Todd Krizelman, chief executive officer/co-founder of MediaRadar, said in a release: “Although there appeared to be progress in addressing these issues, recent developments suggest that X is still facing challenges.””

More here.

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