Advertisers plan to withdraw from X in record numbers | CNN Business
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A record number of firms plan to cut advertising spend on X next year because of concerns that extreme content on the platform could damage their brands, dealing another blow to the financial fortunes of Elon Musk’s social media company.
    • Tylerdurdon@lemmy.worldEnglish
      1244·
      2 months ago

      Money has been spent, budgets committed, etc. Think of it like steering a large ship. You may turn the wheel immediately, but the ship will take time to adjust it’s course.

      • chakan2@lemmy.worldEnglish
        334·
        2 months ago

        Ahh…the fortune 500 excuse…luckily those ships contain cash hordes that won’t run out for decades to centuries.

        • Tylerdurdon@lemmy.worldEnglish
          13·
          2 months ago

          It takes time for approvals and the general clusterfuck of decision-making. I’m not defending it, just what I see.

        • Rampsquatch@sh.itjust.worksEnglish
          3·
          2 months ago

          And if they already paid for a certain amount of ads? What if there is a contract and they are obligated to have their ads on the platform for a certain amount of time? There are any number of reasons why they can’t just pull the plug , no matter how much they may or may not want to.

    • Nollij@sopuli.xyzEnglish
      20·
      2 months ago

      Often there are contracts. Sometimes for a very long time, often multi-year. There are sometimes escape clauses (like a morality clause for a spokesperson), but these aren’t easy to invoke.

      I suspect many of them are up for annual review/renewal, when they can be terminated without penalty. It might also just be an attempt to get better terms.

    • b161@lemmy.blahaj.zoneEnglish
      132·
      2 months ago

      Yup. Every company still on there is a Nazi brand. If they actually cared about that they’d pull their ads immediately.

    • helenslunch@feddit.nlEnglish
      1·
      2 months ago

      He cant sue them for leaving. He can (and did) sue them for collusion, at which point they promptly closed up shop because they knew what they were doing was illegal.

  • don@lemm.eeEnglish
    52·
    2 months ago

    Well he did tell them to go fuck themselves, so it’d make sense for them to decide to just fuck right off.

  • Engywuck@lemm.eeEnglish
    421·
    2 months ago

    About fucking time. I’m just sick of the “news” about X. Hopefully it disappears for good.

    • ripcord@lemmy.worldEnglish
      19·
      2 months ago

      Apparenrtly the “plan” would only drop Twitter down to $2B a year.

      That plus Musk putting in whatever’s needed - it’s not going anywhere anytime soon.

      Now, if people mass left the platform, that would change things. But it’s still suuuuper popular, because people fucking suck.

  • partial_accumen@lemmy.worldEnglish
    321·
    2 months ago

    Only 4% of marketers overall think X ads provide “brand safety” — certainty that their ads won’t appear alongside extreme content —

    The 4% may represent lumpy pillow manufacturers, sellers of freeze dried survival food, random cryptocurrency products, and Trump 2024 flag/tshirt providers.

    The spokesperson added that X’s “brand safety rate is on average 99%, as validated by DoubleVerify and Integral Ad Science,” companies that analyze the value of digital advertising placements.

    “But that 1% remaining will have your products featured next to ads denying the holocaust, hate speech against LGBTQ+ communities, and ads discrediting proven science in favor of, oh I don’t know, phrenology or something” -the spokesperson probably

  • Imgonnatrythis@sh.itjust.worksEnglish
    251·
    2 months ago

    If Nike is one of these planning to withdrawal advertising with them I’ll be very disappointed. They need to just do it.

    Sounds like they are trying to double dip by still using it as an ad platform but saying they are working on backing out but also appealing to people that hate bigoted idiots as well.

  • shalafi@lemmy.worldEnglish
    19·
    2 months ago

    Knowing nothing about marketing, I figured that after threatening to sue his advertisers there would have been a full-stop on incoming customers and, at the least, a spending level freeze by existing customers.

    • bamboo@lemm.eeEnglish
      9·
      2 months ago

      I generally avoid voluntarily giving money to people threatening to sue me.

  • itsgroundhogdayagain@lemmy.mlEnglish
    16·
    2 months ago

    If you are wondering, some of the companies still advertising on Twitter are Samsung, State Farm, The Athletic, and DirecTV.

    • xtr0n@sh.itjust.worksEnglish
      4·
      2 months ago

      I’m going to contact my State Farm agent about this. Maybe Geico or Progressive are more adverse to Nazis.

  • circuitfarmer@lemmy.sdf.orgEnglish
    9·
    2 months ago

    Elon has fucked around so much at this point, he should eventually be enduring a never-ending streak of find outs.

  • cmrn@lemmy.worldEnglish
    5·
    2 months ago

    I’d love to know the returns any of these companies are getting on advertising there… it was already pretty bleak before the takeover.