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Some brands are walking away from X after a Media Matters for America report found ads from major brands appearing \u201cnext to content that touts Adolf Hitler and his Nazi Party\u201d on the platform and after owner Elon Musk endorsed an antisemitic conspiracy theory earlier this week.<\/p>\n
IBM, which the New York Times reported planned to spend around $1 million on the platform in the last three months of 2023, suspended all advertising on the platform, the company confirmed to Marketing Brew.<\/p>\n
\u201cIBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation,\u201d IBM spokesperson Adam Pratt said in an email.<\/p>\n
Following IBM, Apple and Lionsgate suspended advertising on the platform as well, according to news reports.<\/p>\n
In addition to IBM and Apple, brands including Bravo, Xfinity, and Oracle recently appeared next to hateful content on X, according to the Media Matters report. Bravo, Xfinity, and Oracle did not return our requests for comment, and neither did X.<\/p>\n
Digging a deeper hole:<\/strong> Earlier this week, in response to a post on X that referenced an antisemitic conspiracy theory, Musk wrote \u201cYou have said the actual truth.\u201d Musk\u2019s post prompted X Out Hate, a group of more than 160 Jewish leaders, to release a statement calling on brands like Apple and Amazon to stop advertising on the platform.<\/p>\nMusk has also faced criticism from the Anti-Defamation League over hate speech on X; Musk responded by threatening to sue the nonprofit in September. However, the group resumed advertising on X last month.<\/p>\n
The ADL did not respond to a request for comment regarding whether it had paused ads again in light of this week\u2019s developments.<\/p>\n
Exit: <\/strong>As some brands reconsider spending on X, Musk and CEO Linda Yaccarino, who claimed in August that advertisers are \u201cprotected\u201d from appearing next to brand unsafe content, are rolling out other ways to try to make money, including introducing new subscription tiers and partnering with Google to sell programmatic ads. <\/p>\nBut the controversies, as well as data suggesting the platform is losing users, haven\u2019t been good for its valuation, which the company said was $19 billion in October, a steep drop from the $44 billion Musk paid for it in October 2022.<\/p>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Get marketing news you’ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. Some brands are walking away from X after a Media Matters for America report found ads from major brands appearing […]<\/p>\n","protected":false},"author":1,"featured_media":20786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-20785","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\n
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