LinkedIn ad prices are rising as advertiser spend on X plummets, according to new data reported in the Financial Times.
Speaking to the FT, Outcast vice president Leesha Anderson described the current climate as “LinkedIn Season”.
“Most have switched over to LinkedIn over the past year…A few weeks ago most of our clients were off X. Now they are all off X,” she added.
It follows on from Elon Musk being antisemitic, after he wrote a comment expressing agreement with a tweet that appeared to contain a negative remark about Jewish communities.
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When advertisers began to pull out the Tesla CEO also told fleeing advertisers to “go f*ck themselves” at an event last year.
Brands including Walt Disney, Coca-Cola, IBM and more have pulled out costing the business millions in lost revenue.
The UK government also pulled out following the comments but suggested that the move was a commercial one rather than a response to the comments.
Prior to the comment which took place on November 15, X already had plummeting ad revenue after changes to the platform saw a loss in advertiser confidence, with Musk sending out chief executive Linda Yaccarino to woo British advertisers in early November.
Recent predictions from IPG intelligence wing Magna suggest that despite an ailing broadcast market, UK adspend outside of traditional media is expected to grow by 5.7% in 2024, which is up from 3.7% in 2023.
