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Happy Birthday X
X, the platform has had its fair share of twists and turns. As it blows out another candle on the recent drama, courtesy of Elon Musk has added an unexpected spark.
Calling it quits
At The New York Times’ DealBook Summit, Musk took center stage, aiming rhetorical arrows at Disney CEO Bob Iger and cautioning ad buyers about the potential doom of the platform if advertisers decide to jump ship. Brave brands like Apple, Comcast, and Disney have publicly declared their breakups with X due to brand safety concerns, while others opt for a discreet exit strategy, avoiding incinerating bridges and quietly stepping away.
Brands prefer quiet exits
Media execs acknowledge that for every brand making a public exit, there are likely ten others tiptoeing out in the shadows, fearing Elon Musk’s Twitter tirades targeting those who abandon ship. It’s a high-stakes game of hide-and-seek where brands hope not to be called out by the platform’s eccentric leader.
As the dust settles, caution emerges among big spenders. Brands like AT&T, Coca-Cola, and GM have drastically slashed their year-over-year spending on X by over 90%, a trend on the rise. Musk’s attempts to frame advertisers leaving as an attack on free speech don’t resonate with the advertising world. Advertisers prioritize tangible returns over philosophical debates.
Will Musk’s bold statements lead to obscurity, or will the platform reinvent itself with new revenue models?
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