Despite Elon Musk's aggressive marketing and discount strategies to regain advertisers on his platform X, major brands remain skeptical. While revenue projections show a modest increase from $1.9 billion last year to an expected $2.3 billion this year, many top advertisers have not returned to spending at pre-acquisition levels. Reports indicate that significant pressure tactics have been employed to encourage investment, yet brands like American Express are only spending a fraction of their former budgets, highlighting persistent trust issues within the advertising community.
Despite various tactics like discounts and pressure from X's leadership, many major advertisers still hesitate to invest significantly in the platform post-acquisition.
With 66 of the top 100 U.S. advertisers not spending on X, it's clear that significant trust issues linger, rendering Elon Musk's initiatives ineffective.
Brands like American Express have returned but are only investing 20% of their previous amounts, showing a significant lack of confidence in the platform.
Pressure tactics and enticing discounts from X do not adequately address the deeper issues advertisers face when assessing the platform's value.
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