Kantar Report: Declining Trust in X Advertising While Competitors Flourish
Kantar’s Media Reactions 2024 report reveals that 26% of marketers plan to reduce ad spending on X, highlighting a significant decline in trust for the platform. In contrast, advertisers are shifting focus to Amazon, TikTok, and YouTube, which have gained favor among consumers. The study indicates evolving preferences across generations and shows a growing receptivity among consumers to ads across various channels.
Kantar’s latest Media Reactions 2024 report reveals a significant downturn in advertising on X (formerly Twitter), with 26% of marketers intending to reduce ad spending on the platform next year. This marks the steepest decline recorded for a major global ad platform. The research reflects insights from 1,000 marketing professionals and 18,000 consumers, highlighting a shift in ad investments toward Amazon, TikTok, and YouTube, which are now more favored by marketers and consumers alike. Trust in X has plummeted since Elon Musk’s acquisition, with confidence dropping from 22% to 12%. Only 4% of marketers believe that advertising on X is safe for their brands. Kantar’s global thought leadership director, Gonca Bubani, states that trust is pivotal for marketers and notes that marketers are increasingly prioritizing platforms that deliver consistent, safe, and engaging advertising experiences. While advertising budgets dwindle for X, consumer sentiment might improve as a result of reduced ad exposure. The report also debunked stereotypes around generational ad preferences, uncovering varied preferences across age groups. Gains in ad receptivity among consumers signal an evolving landscape where targeted, quality campaigns can significantly impact marketing effectiveness.
The advertising landscape is rapidly evolving, with social media platforms experiencing shifting levels of trust and engagement among marketers and consumers. X, formerly known as Twitter, is struggling under the new ownership of Elon Musk, leading to a sharp decline in advertiser confidence. Meanwhile, competitors like YouTube, Amazon, and TikTok are thriving as marketers reassess their advertising strategies to reach target audiences effectively. This report provides crucial insights into current media dynamics and highlights which platforms are garnering consumer and marketer trust.
The Kantar report underscores a critical shift in the advertising ecosystem, with X losing trust among marketers while competitors like Amazon, YouTube, and TikTok gain ground. The decline in ad spending on X reflects broader concerns about brand safety and consistency in advertising. Marketers are adapting by focusing on platforms that provide a trustworthy environment and effective engagement with consumers. This evolving landscape requires brands to tailor their strategies to meet changing consumer preferences and improve the quality of their creative campaigns.
Original Source: www.marketing-beat.co.uk
