Two events have led to more than 100 major brands suspending advertising on the X platform. The first was a report that tech giants like Apple could be shown ads to combat hate speech, albeit in extremely rare cases. The second was Musk endorsing an anti-Semitic tweet. Although Musk later apologized and said it was probably the worst and dumbest post he had ever made, the tweet remained.
In an interview with Andrew Ross Sorkin at the New York Times DealBook Summit, before Sorkin could ask about companies that had paused advertising on X, Musk said if someone was trying to blackmail him with ads, go fuck yourself.
He also waved to Disney CEO Bob Iger in the audience. Disney was one of the first brands to join Apple in pausing advertising on the platform.
Billionaire Elon Musk clashes with major brands for refusing to advertise on X
Elon Musk's social media platform is looking to attract small and medium-sized businesses to support its failing advertising business, following an attack on major brands boycotting his social media platform, the Financial Times reports.
Specifically, X is doubling down on investments to facilitate ad spending by smaller brands, looking to offset the massive revenue losses caused by the departure of major advertisers.
But the social network will struggle, says a former ad sales executive at AdX, which relies on complex self-service ad-buying tools that allow even unsophisticated business owners to easily target the right potential customers.
Meanwhile, X’s ad offering to businesses has lagged behind rivals like Meta, Google, and TikTok due to its lack of ability to build high-end ad platforms. Friends and former colleagues of X CEO Linda Yaccarino have urged her to step down from the role to protect her own reputation.
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