According to a new study, Only 4% of marketers consider X a safe space For brand advertising, the outlook for the platform’s advertising business continues to deteriorate.

X is rapidly losing credibility

The research also shows that 26% of marketers plan to reduce their ad spend by X amount in the next year. The survey of 18,000 consumers and 1,000 marketers from around the world reveals a sharp decline in advertiser trust in the platform.

This comes after X has faced problems for a year and a half, with many major advertisers cutting or pausing spending due to concerns about a rise in hate speech and other toxic content following the company’s acquisition by Elon Musk.

Musk against advertisers

Musk’s actions have only fueled those fears. In a public response to brands concerned about the issues and the proliferation of bots on the platform, Musk has sent them to “hell” and accused advertisers of blackmailing the company.

Despite the decline in advertiser confidence, X says its platform now offers better ad placement security and improved performance metrics. Commenting to the Financial Times, Company X said:

Advertisers know that X now offers better performance and analytics than ever before, along with greater ad placement security for brands through unprecedented platform utilization.

X, however, has not publicly responded to the latest reports, although the company has filed a lawsuit against an industry group and several global companies, accusing them of participating in an illegal boycott of the platform.

As the advertising industry moves further away from X, concerns about the platform’s future are growing, as its reliance on advertising and revenue makes it very unstable, and investors are certainly not going to be happy about that.