Remember this? When you stand up for what’s right, they always come back. “Disney, IBM, Comcast, WB etc.. will be resuming advertising on X after boycott”
When you stand up for what’s right, they always come back.
“Disney, IBM, Comcast, WB etc.. will be resuming advertising on X after boycott” pic.twitter.com/bR0MNbnQcD https://t.co/iYRUuA4uiu
— SRT 126 (@lindeman126) November 15, 2024
- Musk’s Political Influence: Elon Musk’s support for Donald Trump has enhanced his political influence, prompting companies to seek favor with the anticipated administration.
- Revenue Decline Post-Acquisition: Following Musk’s $44 billion acquisition, X’s revenues dropped significantly, with valuations falling below $10 billion.
- Concerns Over Content Moderation: Brands like Disney, IBM, and Apple previously left the platform due to concerns over Musk’s content moderation policies.
- Political Leverage in Advertising: Marketers may reallocate spending to X as a form of political leverage, especially those seeking government contracts.
- Potential Official Channel: X could become an official communication channel for the White House, given Musk’s role in the new Department of Government Efficiency.
- Skepticism Among Advertisers: Some advertising executives remain cautious, questioning the risks and value of returning to X.
- Musk’s Optimism: Musk anticipates a business resurgence for X, citing increased user engagement and political discourse aligned with Trump’s victory.
- Challenges Ahead: Despite optimism, X faces challenges, including debt and market skepticism, in stabilizing its business.
- Impact on Debt Holders: Banks holding X’s debt are uncertain about the election’s impact on their holdings, given the platform’s financial instability.
- New Financial Leadership: X has appointed Mahmoud Reza Banki, previously CFO of Tubi, as its new Chief Financial Officer.
- Legal Actions Against Advertisers: X filed a lawsuit against the Global Alliance for Responsible Media and certain advertisers, alleging collusion in boycotting the platform.
Disney, IBM, Warner Bros., and others are cautiously advertising on X (formerly Twitter) again after a year-long boycott over content moderation issues. However, their ad spending has plummeted by 98%, signaling ongoing hesitation.
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After their unsuccessful boycott, IBM, Disney, Comcast, Discovery, Warner Bros, and Lionsgate Entertainment have all returned to advertising on X. pic.twitter.com/x13LtsInSL
— Lululikes 🍿 (@PattyCakes1203) November 16, 2024
Major companies resume advertising on X, after previously joining a boycott of the site. Comcast, Disney, Warner Bros, Discovery and Lionsgate have resumed advertising on the site this year, after previously joining a boycott in 2023. Industry experts believe Elon Musk’s close ties with Trump, will likely spur advertisers to return to the platform. Source: Adweek, Financial Times
