Several companies are giving up their advertising campaigns on X (formerly Twitter) due to too many unmoderated and deleted anti-Semitic posts on the platform: Musk’s company risks losing $75 million in lost advertising. And even if the company reduces the financial losses, they are still losses.
X risks losing $75 million in advertising for anti-Semitic posts
Xthe social network formerly known as Twitter, usually experiences an increase in advertising revenue in the final months of the year, in preparation for Christmas shopping. However, according to what was reported by New York Timesthe company’s earnings report for this quarter could present a new outlook.
According to internal documents seen by the Times, further 100 marks and other advertisers, such as political candidates, have completely stopped their advertising on the X website. Several others are considering suspending their campaigns. If advertisers do not return, X could suffer a loss of up to 75 million dollars in ad revenue this year.
Documents highlight the impact on X’s finances of brands abandoning the site, including the first group to suspend adverts bit after Elon Musk’s controversial tweet in which he supported an anti-Semitic theory.
Media Matters’ complaint and Twitter’s response
Immediately after that tweet, the media watchdog organization, Media Mattersreleased a report showingto advertisements on the site in proximity to anti-Semitic content. In response, X filed a lawsuit against the organization.
In the complaint, X alleged that Media Matters knowingly manipulated the situation to display “niche” posts alongside the ads. Linda Yaccarino, CEO of The organization called X’s lawsuit “frivolous,” saying it expected a victory in court (as Engadget reports).
The exodus from
Brands like IBM, Apple e Disney they pulled their ads from X following the incidents. Lionsgate explicitly cited Musk’s tweet as the reason for discontinuing its advertising campaigns. And then came the resignations of Ubisoft, Airbnb which would have blocked further 1 million dollars of advertising on X, while Netflix canceled $3 million in ads. X may also suffer a loss of 4 million dollars for the branches of Microsoft. Also Uber e Coca Cola they retreated.
In a statement to the Times, the company said the data it reviewed was either outdated or represented an “internal exercise to assess total risk.” He further argued that the revenue at risk amounted to only approx 11 million dollars. But to have official data, we would have to let the Christmas season pass – which in any case, it doesn’t look like X can get through without financial losses.