Shulou(Shulou.com)11/24 Report--

Oct. 24 (Xinhua)-- most of the world's richest advertisers have stopped advertising on the platform after the world's richest man, Elon Musk, bought social media Twitter and renamed it X, according to the latest data provided by marketing consultancy Ebiquity.

According to COMvergence, a media research firm, Ebiquity currently has partnerships with 70 of the top 100 advertisers with the highest spending. Only two customers bought ads on the X platform last month, Ebiquity said. According to statistics, by comparison, 31 customers placed ads on the Twitter platform in September last year. Data show that the number of Ebiquity customers advertising on the platform has declined steadily since Musk bought Twitter last October.

Ebiquity did not disclose the names of the advertisers. According to recently released financial documents, Ebiquity's customers include Google, Wal-Mart, Vodafone and General Motors. Ebiquity's advertising data on the X platform comes from its digital media solutions division, which collects digital media delivery data from various institutions and platforms.

Ruben Schreurs, chief strategy officer at Ebiquity, said: "We have never seen this decline on any large advertising platform before."

Ebiquity said the results of the analysis appeared to contradict the claims made by Linda Yaccarino, chief executive of platform X. "in the past 12 weeks alone, 90% of the top 100 advertisers have returned to the X platform," Yacarino said in an interview last month. " In the same interview, she listed the advertising spending of "1500" brands such as Visa, Nissan and AT&T that were all restored on the X platform.

A spokesman for platform X clarified that the so-called 90 per cent figure was taken as a reference for the top 100 X advertisers the previous year, and declined to comment publicly on the results of the Ebiquity survey.

The biggest advertisers of Twitter, the predecessor of the X platform, are usually the world's largest advertisers, such as Amazon, Unilever, Coca-Cola and IBM, according to previous reports citing data from analytics firm Sensor Tower.

In April, Mr Musk said that "almost all" advertisers had either returned to the platform or made it clear that they would do so. Last month, he added that advertising revenue for platform X in the U.S. Market was down 60%.

"We are baffled by recent claims by the leadership of platform X that top advertisers are returning to the platform to advertise on a large scale," said Mr Schriles of Ebiquity. " He added that based on Ebiquity's partnerships with clients and discussions with advertiser industry groups, there was no sign that large advertisers had returned to the X platform.

Mr Schriels said Ebiquity's analysis had led to "serious concerns in the industry about the credibility of Mr Musk and Yakarino's public statements".

Over the past year, many advertisers have stopped or significantly reduced spending on the X platform because of concerns about the quality of content and the overall reliability and effectiveness of advertising on the X platform.

Another analysis by advertising analyst Guideline found that X's advertising revenue in the US market has fallen by at least 55 per cent a month since Mr Musk took over. A review of Sensor Tower survey data by Media Matters, an industry group, found that although technically some advertisers had returned to platform X to advertise, they were spending only a fraction of what they had previously spent. For example, Visa spent only $10 in the 12 weeks ended October 6, compared with $77500 in the same period last year, according to Sensor Tower.

"at a time when trust and transparency are critical, we welcome officials to follow up and support the released data," Schriels said. "

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