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Musk lashed out at advertisers who pulled out of the X platform, and analysts said it could lead to more brands to follow

2024-04-22 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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CTOnews.com, Nov. 30 (Xinhua) billionaire Musk launched a fierce attack on some media giants withdrawing from his social media platform X at the New York Times DealBook event, which could lead to more advertisers fleeing the platform, analysts said on Thursday.

Walt Disney and Warner Bros. Discovery suspended ads on X earlier this month after Musk endorsed an anti-Semitic post that falsely claimed that the Jewish community was inciting hatred against whites.

CTOnews.com previously reported that Musk launched a swearing attack on some advertisers fleeing the X platform after apologizing for his post at Wednesday's event. Mr Musk acknowledged that X could go bankrupt if the advertiser's boycott continued, but said the public should blame the brands, not him.

X has been widely criticized for loosening content censorship, especially for advertisers who do not want their ads to appear next to inappropriate content.

"We think there is a risk that more companies will stop advertising on X, at least in the short term," said Tom Forte, an analyst at D.A. Davidson & Co. "it can be said that this makes the company's subscription business more important and may mean that the company may need more than half of its revenue from subscriptions."

Since Musk bought the company in October 2022, X's monthly advertising revenue in the United States has fallen by at least 55% from a year earlier, Reuters reported last month.

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