Two events 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 counter 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 stupidest 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 the companies that had paused advertising on X, Musk said if someone was trying to blackmail him with ads, go away.
He also waved to Disney CEO Bob Iger on stage. Disney was one of the first brands to join Apple in pausing advertising on the platform.
Billionaire Elon Musk is at odds with major brands over his refusal 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 large revenue losses due to the departure of major advertisers.
But a former ad sales executive at AdX said the social network would struggle, with its market relying 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 lags behind rivals like Meta, Google, and TikTok due to its lack of ability to build high-level ad platforms. Friends and former colleagues of Linda Yaccarino - CEO of X have unanimously advised her to leave this role to protect her own reputation.
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