On Friday, Walmart (WMT.N.) announced that it will no longer be advertising on social networking platform X. This is one of the most recent businesses to announce that it has abandoned the website that Elon Musk owns.
A Walmart spokeswoman stated, “We are not advertising on X because we have discovered other platforms that are more effective in reaching our customers.”
When a request for comment was made to X, which was once known as Twitter, the company did not immediately answer. Over the last several weeks, the site has been facing a fresh outflow of advertisers due to mounting concerns over antisemitic content. Since Musk purchased the firm in October 2022, the network has grappled with retaining advertising.
At the beginning of this month, Musk expressed his agreement with a user on X who made a bogus claim that members of the Jewish community were responsible for inciting hatred against white people. Musk stated that the individual was expressing “the actual truth.”
The user had also referred to the “Great Replacement” conspiracy theory, which asserts that Jewish people and leftists are working to engineer the ethnic and cultural replacement of white populations with non-white immigration, which would ultimately result in a “white genocide.”
During an interview on Wednesday at a DealBook event hosted by the New York Times, Musk expressed his regret for the tweet he had written. However, he also screamed expletives at advertisers who halted their advertisements, accusing them of “blackmail.”
In the aftermath of Musk’s tirade against companies, X ad salespeople were agitated. They did not have much to say in talks, according to an executive at a big advertising agency who declined to be identified. The official reported that the reps did not have much to say.
Following a report from the leftist watchdog organization Media Matters, which stated that advertisements had been shown next to antisemitic messages, significant companies such as Apple (AAPL.O), Walt Disney (DIS.N), and Warner Bros. Discovery (WBD.O) halted their advertisements on X this month.
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