X ad boycott gathers pace amid antisemitism storm
The source of the image used in this blog post is Getty Images.
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Companies like Apple, Disney, and IBM have ceased advertising on platform X due to an issue with antisemitism currently present on the site.
Following X's boss Elon Musk's amplification of an anti-Jewish stereotype on the social media site now formerly known as Twitter.
The boycott of X is gaining popularity due to a recent examination conducted by a US organization that brought attention to advertisements being displayed alongside content supportive of Nazi ideology.
Mr. Musk has refuted claims that his post was discriminatory towards Jewish people and has warned that he may take legal action in response to the marketing inquiry.
Media Matters for America, a group with left-leaning views, stated that it had detected advertisements from well-known companies displayed alongside content containing quotes from Adolf Hitler, expressions of admiration for the Nazi party and rejection of the occurrence of the Holocaust.
Someone speaking for X informed BBC that the company does not intend to feature brands "beside this type of content" on purpose and the website is focused on opposing antisemitism.
On Saturday, Mr Musk mentioned that his company X was planning to file a lawsuit against Media Matters as soon as the court opened on Monday. He referred to it as a "thermonuclear lawsuit".
According to him, the report published by the group has inaccurately portrayed the actual user experience of X. He believes that the intention behind doing so was to weaken the freedom of expression and deceive potential advertisers.
Last Wednesday, Mr. Musk responded to a post that shared a conspiracy theory. This theory blamed Jewish communities for spreading hatred towards white people. Mr. Musk called this theory the "actual truth."
Afterwards, the wealthy businessman and founder of Tesla and SpaceX, clarified that his remarks were aimed at certain groups, such as the Anti-Defamation League (ADL) and other unnamed organizations, rather than all individuals who identify as Jewish.
Mr. Musk's endorsement of the post was criticized by the White House.
Spokesperson Andrew Bates strongly denounces this deplorable promotion of both racist hate and antisemitism.
IBM has recently taken a stern step against the website after it was found through Media Matters investigation that the site contained Nazi content. It is reported that IBM has withdrawn its advertisements from the website as it finds the association of its advertisements with such reprehensible content as unacceptable.
Other companies such as the European Commission, Comcast, TV network Paramount, and movie studio Lionsgate have also withdrawn their advertising funds from X.
Last Friday, Mr. Musk took action to address the rising uproar surrounding the pro-Nazi posts. He acknowledged the presence of "calls for extreme violence" against Israel and took measures to address this issue.
On the website X, it was mentioned that anyone who utilizes phrases like "from the river to the sea" would face suspension on the platform. The Anti-Defamation League views this statement as a hidden demand for the annihilation of Israel.
X has often been criticized by the ADL for how they moderate inflammatory content, but this time, they're applauding Mr. Musk for his announcement. In fact, the ADL's CEO, Jonathan Greenblatt, considers it a significant and positive step forward.
On Friday evening, Linda Yaccarino, the CEO of X, stated that the company has been unequivocal in its stance against anti-Semitism and discrimination. She emphasized that such behavior has no place in our world.
The picture was obtained from the website, Getty Images.
Mr Musk enlisted the services of Linda Yaccarino as the new top executive to aid in developing a connection with advertisers.
The platform claims that it has more effective measures to ensure brand safety compared to other social media networks and even with fewer safety personnel, instances of hate speech and extremism have decreased.
Many independent organizations hold a different view and argue that this type of material has grown since Mr Musk assumed the role of leader.
The current amount of revenue that X obtains from advertisements is uncertain, as the company has become private and no longer releases quarterly reports.
Prior to Mr. Musk's tenure at the company, Twitter generated approximately 90% of its revenue from advertising.
In an effort to reduce dependence on advertising revenue, Mr. Musk has made an attempt to introduce a subscription-based membership level.
By subscribing to a monthly membership, you'll earn the coveted blue checkmark next to your name and your posts will receive a boost. However, this method only contributes a small portion of our overall earnings.
During an interview with BBC in April, Mr. Musk mentioned that "nearly all advertisers have either returned or are planning to return."
After a span of three months, he accepted via a publication on X that the income generated through ads had decreased by half.
Many people thought that he hired Ms. Yaccarino, who used to work in advertising, to improve his connection with advertisers.
View: X removed a blinking signal in August due to grievances.
Forming such connections becomes challenging if it is the proprietor of the business who is publishing contentious articles.
Advertisers are concerned that the platform doesn't censor content enough, which conflicts with Mr. Musk's dedication to protecting free speech. It's a tough conundrum.
Last month, the BBC spoke with Ross Gerber, who invests in Twitter. During the interview, he mentioned that advertisers were concerned about the presence of content related to Nazis on the platform, with some feeling that such content was not being taken down appropriately.
He expressed his disinterest in having his advertisements in any proximity with Nazis. He believed that almost all brands would share the same opinion.
"Losing sponsors because of Nazi ideologies is the most foolish approach one could think of."
Despite being the wealthiest person on the planet, Mr. Musk had to take out loans worth billions to acquire Twitter and is obligated to pay interest on those loans.
If he fails to stop the outflow of advertising money from the platform, it may soon become a growing financial problem.
Kayla Epstein, Matt Murphy, and Mike Wendling have contributed more reporting to this blog post.
