In November, these are some of the groups that have stopped advertising on X, per NYT:
- Apple, $AAPL
- Disney, $DIS
- Paramount, $PARA
- Lionsgate
- IBM, $IBM
- Comcast, $CMCSA
- NBC Universal
- The European Commission
- Walmart, $WMT
- Ubisoft
- Axios
- TechCrunch
"We have chosen not to advertise on X as we have identified other platforms that offer better opportunities to connect with our customers," stated a Walmart representative.
X, formerly known as Twitter, did not respond immediately to a request for comment.
The platform has been grappling with retaining advertisers since Elon Musk took over the company in October 2022, and it has recently witnessed a renewed departure due to heightened concerns about antisemitic content.
Earlier this month, Musk endorsed a statement from an X user who falsely asserted that members of the Jewish community were fostering animosity towards white people, stating that the user was expressing "the actual truth."
The user also mentioned the "Great Replacement" conspiracy theory, alleging that Jewish individuals and leftists are orchestrating the replacement of white populations with non-white immigrants, leading to a "white genocide."
Musk apologized for his post during an interview at a New York Times DealBook event on Wednesday but criticized advertisers who suspended their ads, accusing them of "blackmail."
An executive at a prominent ad-buying agency, requesting anonymity, noted that X ad sales representatives appeared frustrated in the aftermath of Musk's comments against brands and were not very communicative.
Major brands, including Apple (AAPL.O), Walt Disney (DIS.N), and Warner Bros Discovery (WBD.O), also halted their ads on X this month
