Disney Becomes Next Brand To Pull Out Of X Adverts

In the wake of Elon Musk’s recent endorsement of antisemitic talking points on his social media platform X, Disney has decided to withdraw its advertisements from the platform, according to a report by CNN. This move adds Disney to a list of major brands, including Apple, Comcast, IBM, Lionsgate, NBCUniversal, Paramount, and Warner Bros. Discovery, that have already ceased advertising on X.

IBM took a stand on November 16 after its imagery appeared alongside pro-Nazi content on the platform, explicitly condemning the situation and expressing zero tolerance for hate speech and discrimination. Other companies, such as the NCTA and Gilead Sciences, had previously halted ads on X in response to similar issues.

The backlash against Musk is growing, with reports indicating an increasing engagement with and endorsement of extremist beliefs. Uncertainties about X’s future profitability are now looming, as major advertisers continue to sever ties with the platform.

Both Musk and X CEO Linda Yaccarino have issued statements in response to the fallout. Yaccarino reaffirmed the platform’s commitment to combating antisemitism and discrimination, stating, “There’s absolutely no place for it anywhere in the world.” Musk, on the other hand, declared a strict policy against advocating genocide on the platform, asserting that anyone doing so would be suspended.

X has also pledged to bar pro-Nazi accounts from monetization, according to a spokesperson for the platform.

Criticism is not only directed at Musk’s controversial statements but also at his handling of the situation. Ross Gerber, the co-founder and CEO of wealth-management firm Gerber Kawasaki Inc., expressed concern over Musk’s actions, deeming them detrimental to the brand.

The world’s wealthiest individual, Musk, had previously accused the Anti-Defamation League of causing a 60 percent decrease in US ad revenue at X without providing evidence. Israeli Prime Minister Benjamin Netanyahu had urged Musk in September to “strike a balance” between protecting free expression and combating hate speech on the platform.

As the controversy surrounding Musk and the withdrawal of advertisers intensifies, questions about X’s stance against hate speech and its future direction come to the forefront. The platform, which had earlier anticipated profits by next year, now faces a challenging period ahead.