A survey of 602 German firms with at least 20 employees, commissioned by the digital association Bitkom, showed 58% of companies that use X are posting less or have stopped posting altogether.
In contrast, only 32% are publishing as much on X, formerly known as Twitter, as before.
Some 3% of firms are posting more or started posting only after Musk’s 2022 takeover, while 4% do not post anything on X at all.
Overall, 27% of the surveyed companies still use X. In October 2023, this figure was 32%, with 43% of respondents at the time stating they were posting less or no content.
Bitkom attributes the declining use of X primarily to reservations about tech billionaire Musk, who campaigned for Donald Trump to win the US presidential election and then helped the White House slash costs.
Musk then appeared to fall out with Trump as the South African-born magnate stepped away, before announcing this month that he has decided to form his own US political party.
Nearly two-thirds, or 63%, of German companies surveyed consider Musk dangerous. Additionally, 74% believe that individuals with as much influence over social media as Musk should not hold political office.
The scepticism towards Musk has also affected German companies’ willingness to invest in X. Some 51% are placing fewer or no paid advertisements on the platform anymore. Two years ago, this figure was 26%.
Currently, only 7% advertise on X to the same extent as before Musk’s takeover, while 37% avoid advertising on the platform altogether.
“Many companies distance themselves when someone combines massive economic, political and media power,” Bitkom’s chief executive Bernhard Rohleder said in a statement.
Despite worries over Musk, most German companies surveyed do not intend to completely leave X. Only 11% of firms with an official account plan to delete their profile this year or next. Another 4% want to delete their profile but have not specified a time frame.
