Walmart Pulls Ads from Elon Musk’s X After Controversy Over Hate Speech
Walmart is one of the latest major advertisers to pull its ads from Elon Musk’s social media platform X due to concerns over hate speech. This move follows after Musk accused companies halting spending on X as engaging in “blackmail.”
Addressing their decision, Walmart stated that they prefer to use other platforms to reach their customers. The retail giant is joining a list of companies, including Walt Disney Co., IBM, NBCUniversal, and Comcast, in boycotting X.
X, formerly known as Twitter, has been criticized for its lax content moderation, triggering concerns among advertisers about their ads appearing alongside inappropriate content. The platform’s CEO, Linda Yaccarino, struggled to rebuild trust with advertisers.
Musk’s explicit remarks during the DealBook summit have aggravated the controversy, with X’s Head of Operations, Joe Benarroch, highlighting the platform’s substantial user base.
As an increasing number of companies pause advertisements on X, financial concerns are looming. Analysts have voiced worries about the fallout on X’s ad revenue.
Elon Musk acknowledged the potential financial consequences of the advertiser boycott and the decline in ad revenue since he took over X in October 2022. Musk’s recent controversies and financial decline are raising doubts about X’s prospects.
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