Advertisers sent by Musk gathered to leave X en masse
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Social network X (formerly Twitter) is facing an outflow of a large number of advertisers after a speech by its owner Elon Musk. Reuters writes about this.
According to the source, X currently has only one major client. In addition, the network could lose advertising from political candidates, including the 2024 US presidential election, whose advertising budget could exceed $10 billion.
Mike Nellis, CEO of digital marketing agency Authentic, which works with Democratic candidates, said he plans to talk to clients about whether to invest in advertising on X. Musk himself has already said he won’t vote for Biden.
Previously, advertisers criticized X for insufficient moderation – their ads appeared next to objectionable content. Advertising costs on this social network in the United States from the beginning of the year to October decreased by 64% compared to the same period in 2022.
Another controversy was sparked by Musk’s approval of a post that accused Jewish communities of spreading anti-white hatred. Disney and Warner Bros. Discovery then suspended advertising in X. For this, Musk publicly and rudely sent them away.
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