Brands such as Disney, Apple, Warner Bros. Discovery, Lionsgate, IBM and others have decided to stop publishing on Twitter, as well as to pause their agreements as advertisers with this platform.
Elon Musk and his platform X, formerly Twitter, are currently in the doldrums, and just a few weeks ago, we learned the news that some of the most important advertisers that the platform has decided to distance themselves from X.
Brands such as Disney, Apple, Warner Bros. Discovery, Lionsgate, IBM and others have decided to stop publishing on Twitter, as well as to pause their agreements as advertisers with this platform.
In order to continue obtaining benefits and for X to grow, according to the Financial Times, Elon Musk is looking for other advertisers to replace these big brands when it comes to advertising, and his ideal profile would be that of small and medium-sized companies, better known as SMEs.
Musk accuses advertisers of “blackmail”.
The reason for the flight of these advertisers is that Musk had encouraged anti-Semitic comments on his social network that made some of the brands that are present in X feel very bad. In addition, Elon Musk attacked these advertisers, claiming that they are trying to “blackmail” him.
“Go fuck yourself,” the billionaire published on his platform, referring to the advertisers who slammed the door in recent days to the social network X, formerly known as Twitter.
Musk also explained that these advertisers who no longer want to be on his social network have a reason, and that is that they are trying, according to him, to “kill” his platform with their advertising boycott.
The billionaire decides to focus on small brands
As we mentioned at the beginning of this article, after the flight of big brands that no longer want to promote themselves on Twitter, the tycoon has decided to bet on small companies and attract them to invest in his platform.
Musk would need to recover all the losses obtained with the flight of advertisers, which many have estimated at 75 million dollars, although the company has indicated that they are much lower and that the real figure is between 10 and 12 million dollars.
According to a MediaRadar research, more and more advertisers are fleeing X or investing less money on this platform: of almost 16,000 X advertisers between January and October of this year 2023, 79% spent less than $25,000, a total of $60.5 million. In addition, 91% of the advertising revenue that Elon Musk’s platform earns came from brands that spent about $99,000 or less.