Elon Musk, the tech billionaire and CEO of Tesla, stated on Friday that he is grateful that big companies have resumed advertising on his social media platform, X after previously boycotting it over 'brand safety' concerns. Following the election of US President-elect Donald Trump and Musk's appointment to head DOGE (Department of Government Efficiency), there have been reports of multiple brands making a comeback to the platform.
Trump is responsible for comeback
The Republican candidate Donald Trump's victory in this year's US elections was held responsible for this return. Musk has been one of Trump's most enthusiastic supporters, publicly endorsing him on X and contributing up to USD 119 million to his campaign.
IBM, Disney and comcast back on X to advertise
According to a report, social media star Mario Nawfal posted on X that following a year-long boycott, businesses like IBM, Disney, Comcast, and Discovery have started running ads on the platform again.
Following an almost year-long boycott, it has been reported that IBM, Disney, Comcast, Discovery, Warner Bros., and Lionsgate Entertainment have resumed their ad campaigns on X.
As CEO of the X restores confidence and ad partnerships on the platform, Linda Yaccarino leadership is credited with the return,' Nawfal wrote.
Just want to say that we super appreciate major brands resuming advertising on our platform!
— Elon Musk (@elonmusk) November 15, 2024
Thanks @lindayaX and the whole team for your hard work in restoring confidence in our platform and ensuring that advertising content only appears where advertisers want it shown. https://t.co/e508KrMo9g
Elon musk appreciated X CEO
‘We really appreciate big brands coming back to advertise on our platform!’ Musk wrote in response to Nawfal's post. He was also appreciative of the work done by X CEO Linda Yaccarino and other team members to win back the trust of advertisers.
‘We appreciate the efforts of CEO Linda Yaccarino and the entire X team in reviving trust in our platform and guaranteeing that advertising content only shows where advertisers desire it to,’ Musk added.
Top advertiser's spend on X
According to the report, X's top advertisers include companies like Kueez Entertainment, Canles Shoes, and Karma Shopping, which together spent over USD 12 million this year, for a total of USD 68 million.
Apple stopped ads on X
According to the report, the companies, including Apple, halted their advertising campaigns in November 2023 after their ads were seen alongside hate speech and antisemitic material.