loader image

BIZBoost Galaxy Out Now 🔥🚀

Elon Musk’s X: Walmart Joins Ad Exodus, Sparks Debate

Dec 2, 2023 | News | 0 comments

"

In a surprising move, Walmart has officially pulled the plug on advertising through social media platform X, joining the ranks of major corporations distancing themselves from Elon Musk’s domain. The retail giant’s decision, revealed in a statement on December 1, comes amid a growing trend of brands seeking alternative platforms to connect with their audience.

Walmart’s spokesperson explained, “We aren’t advertising on X as we’ve found other platforms to better reach our customers.” While X remained tight-lipped in response, reports reveal that the company had not actively placed ads on the platform since October, focusing instead on fostering organic engagement within its massive community of over one million members.

Elon Musk’s Influence Grows Amidst Turmoil

The decision by Walmart adds momentum to a series of setbacks for X, raising concerns among industry experts about its future. Notably, Walt Disney and Warner Bros. Discovery had already halted advertising on X in November, triggered by Musk’s endorsement of an antisemitic post.

Musk’s subsequent apology did little to mend the damage.

Elon Musk’s role in the controversy took a dramatic turn during the New York Times DealBook event, where he expressed regret before launching into a profanity-laden diatribe against departing advertisers. Accusing them of “blackmail,” Musk’s statements have added fuel to the already fiery debate surrounding X.

Public Opinion Swings in Musk’s Favor

While the controversy has generated industry turmoil, Elon Musk’s bold and unapologetic demeanor seems to resonate with a significant portion of the audience. Social media is buzzing with support for Musk’s statements, with many praising his refusal to bow to traditional corporate norms.

In a surprising twist, Joe Benarroch, X’s head of operations, highlighted the platform’s vibrant community and the significant holiday engagement it witnesses. “With half a billion people on X, every year the platform experiences 15 billion impressions about the holidays alone,” Benarroch stated, emphasizing that over 50% of X users do most or all of their shopping online.

Ad Exodus Sparks Concerns for X’s Future

The departure of major corporations, including Apple, IBM, Sony, Disney, Comcast, and Paramount, who collectively represented 7 percent of the total US ad spend on X until October, has left the platform at a critical juncture. Ad industry experts warn of potential revenue loss not only from corporate advertisers but also from political candidates, as X recently lifted its ban on political ads.

As X faces a challenging period, Elon Musk’s statements continue to be a focal point of discussion, attracting both criticism and support. The controversy surrounding the platform intensifies, leaving the industry and its audience eagerly anticipating the next moves in this unfolding drama.

Want to be featured in BIZBoost Magazine?

Providing Highest Level of Global Digital Media Growth Services, Strategically & Carefully Personalized, Human to Human. BIZBoost your voice, event, business, brand, product, services, and legacy.

How about an entire media run?

Join BIZBoost Media House Family today!

Be the first to Know

Subscribe For Weekly News

LATEST in BIZBoost Media (Magazine, News, Interviews & more) 🔥 Meaningful Digital Media Stories on MUSIC • TECH • FILMS • FASHION • PODCAST • BUSINESS • & MORE

Comments

0 Comments

Leave a Reply

Author

Written by Tanuj Verma

Hey there, it's Tanuj Verma! I'm your creative maestro and am here to mesmerize you with my words. Get ready for an article that goes beyond the usual, creating a connection that takes us to the peak of greatness. Let's embark on this journey together, where words work their magic and capture the heart and soul.

Pin It on Pinterest

Share This