LinkedIn ad prices soar as X declines amid Musk controversy

LinkedIn advert prices are set to increase as advertisers opt to spend less on X due to owner Elon Musk’s recent controversy, new data has revealed.

Speaking to The Financial Times, Outcast Vice President Leesha Anderson dubbed the current climate as “LinkedIn Season”.

Subscribe to Mobile Marketing Magazine

Click here to get the latest marketing news free in your inbox every Thursday

She said: “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.”

The price increase comes as Musk, who rebranded the social media platform from Twitter, expressed agreement with a tweet containing a negative remark about Jewish communities, raising concerns of antisemitism.

However, when advertisers including Coca-Cola, IBM and Walt Disney decided to pull out from the social media platform, Musk told them to “go fuck themselves”.

This comes as X experienced a decline in ad revenue following platform changes impacting advertiser confidence, in response Musk drafted in Linda Yaccarino as CEO of the social media platform.

In December 2023, X added over 10 million users, Yaccarino revealed.

In a post on X she made the announcement, however, she did not elaborate on how many users were paying customers.