Disney, Apple, EU Commission
Big players stop advertising on Musk Platform X
November 18, 2023, 4:12 a.m
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It started with IBM – now Disney and Apple are apparently turning their backs on Musk’s social network when it comes to placing advertising. The exodus began with an advertising scandal that also had to do with Nazi content. The EU Commission is also stopping its advertising for another reason.
After a scandal over anti-Semitism and Nazi content at Twitter’s successor X, other major advertising customers are turning their backs on Elon Musk’s online platform. According to media reports, Apple and Disney stopped all advertising on X. The film studio Lionsgate also confirmed that ads on the platform had been suspended. The computer giant IBM had previously paused its advertising on X. According to the New York Times, the company wanted to spend a million dollars there this quarter.
The trigger for IBM’s decision was that the company’s advertisements were discovered on X alongside Nazi contributions and anti-Semitic statements. The organization Media Matters showed how advertising from IBM, Apple and the software company Oracle, among others, appeared on X alongside posts with positive statements about Adolf Hitler and the ideology of the National Socialists.
In addition, Musk caused a controversy with support for an anti-Semitic post, which earned him sharp criticism from the White House, among other things. The post on Musk wrote about the post on Wednesday that it contained the “actual truth.”
Advertising revenue is no longer what it used to be
In later statements, Musk did not back down from his position, but only qualified it a little: He was referring to “some groups” such as the Jewish organization Anti-Defamation League (ADL) that “actually spread anti-white racism and anti-Asian racism.” . At the same time, he reiterated that, in his view, there was a problem with racism against whites.
The EU Commission also initially does not want to place any more advertising on the social network – due to misleading and false content about the Gaza war. This was confirmed by a spokesman for the EU Commission. The authority justified the move with an alarming increase in disinformation and hate speech. However, the Commission will continue to be present on the platform. The EU Commission has a number of user accounts on X that it uses for public communication about its work.
X’s economic situation is already difficult. Musk admitted several times that advertising revenue was only about half as high as it was during the Twitter era. He is trying to make more money through subscription offers. According to experts, this cannot yet come close to compensating for the loss of advertising revenue.