Walmart, the largest retailer in the United States, announced its decision to stop advertising on Elon Musk’s X/Twitter.
bloomberg report Walmart will stop advertising on Elon Musk’s X social media platform, formerly known as Twitter. With this decision, Walmart joins a growing list of major companies that have recently chosen to pull advertising from the platform.
A Walmart spokesperson told Bloomberg News that the company is shifting its advertising strategy to other platforms where it believes it can more effectively reach its customer base. “We are no longer advertising on X because we have found other platforms that more effectively reach our customers,” a Walmart spokesperson said.
In response to Walmart’s departure, Joe Benarroch, the platform’s head of business operations, emphasized that the retailer has a huge following with more than 1 million users on the platform. He emphasized that the majority of the site’s users are online shoppers, suggesting Walmart’s decision could be a missed opportunity for the company.
Breitbart News recently reported strong resistance from advertisers to resuming financial transactions with social media platform X/Twitter, following a series of controversial comments by its owner Elon Musk. It was reported that This isn’t good news for Musk, given that X, which rebranded from Twitter following Musk’s acquisition last year, has seen a significant drop in advertising in recent months.
Between timesAt the DealBook Summit, Musk made remarks that were considered disrespectful and offensive to advertisers. As Breitbart News reported:
At the summit, he addressed advertisers who have cut ties with X/Twitter. Fuck. yourself. Is it obvious? He also accused these advertisers of trying to “blackmail” the company and potentially force it into bankruptcy.
This has created a rift between the platform and its main source of revenue, with several major advertisers and at least six large marketing agencies publicly expressing their reluctance to have their customers return to the platform. are doing. The concerns are not just financial, but also related to the reputational risk of being listed on a platform controlled by Mr. Musk. “There is no advertising value to offset the reputational risk of returning to the platform,” said Lou Pascalis, founder and CEO of marketing consulting firm AJL Advisory.
Financial analysts estimate that X/Twitter could face up to $75 million in advertising revenue losses this quarter alone, a significant financial hit. Musk’s rant comes at an unfortunate time, coming after the billionaire has made several attempts at damage control, including a visit to Israel.
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Lucas Nolan is a reporter for Breitbart News, covering free speech and online censorship issues.