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Big brands are allocating small amounts of their advertising budget to Elon Musk’s X, seeking to avoid being seen as boycotting the social media platform and triggering a public fallout with its billionaire owner.
Multiple marketing executives told the Financial Times that companies have felt pressure to spend a nominal sum on X following Musk’s high-profile role in US President Donald Trump’s administration.
They said Musk’s pursuit of legal action against groups that have stopped advertising since his $44 billion acquisition in late 2022 had also sparked alarm. X last month added about half a dozen more companies to its case including Shell, Nestlé, Pinterest, and Lego.
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Multiple marketing executives told the Financial Times that companies have felt pressure to spend a nominal sum on X following Musk’s high-profile role in US President Donald Trump’s administration.
They said Musk’s pursuit of legal action against groups that have stopped advertising since his $44 billion acquisition in late 2022 had also sparked alarm. X last month added about half a dozen more companies to its case including Shell, Nestlé, Pinterest, and Lego.
Read full article
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