Shulou(Shulou.com)11/24 Report--

On November 23, X (formerly Twitter) began a new wave of losing advertisers last week because of concerns about hate speech on Elon Musk's social media platform. Since then, at least 12 big brands have stopped spending on X.

Fox Sports, Ubisoft, Axios, TechCrunch and 11:11 Media, the new media company owned by Paris Hilton, all said in recent days that they had suspended advertising spending on X. Last week, a number of big advertisers abandoned the X platform.

The continuous withdrawal of Tu Yuan Pexels advertisers marks the deepening crisis that X is facing. After Musk completed its acquisition last year, the company is already trying to attract brands back to the platform. At the same time, more and more X users are turning to other platforms. The White House joined the Threads this week.

The latest wave of advertisers began last week, when IBM said it had suspended advertising on X after a report by Media Matters, the progressive media regulator, found that its ads appeared alongside pro-Nazi content on X. IBM's decision came after Mr Musk published an article on X earlier this week publicly supporting anti-Semitic conspiracy theories.

A series of major media brands, including Disney, Paramount, Comcast, Lions Gate, NBC Universal and CNN parent Warner Brothers Discovery Channel, followed suit on Friday, although they did not give reasons for stopping advertising on X. Apple also withdrew its advertising spending on X last week, according to several news media reports.

X called on its advertising partners to help protect what it called "freedom of expression". The company filed a lawsuit on Monday, accusing Media Matters of distorting the possibility that advertisements on the site appear alongside extremist content. X also said it had excluded pro-Nazi accounts identified by Media Matters from its monetization strategy, meaning ads could no longer be played on the pages of those accounts.

Linda Yaccarino, chief executive of X, has been promoting brand security controls, saying they help prevent ads from appearing next to objectionable content. Media Matters says he wants to sue X to the end and insists on his report.

X has done little else to reassure advertisers that its platform is secure. Pro-Nazi accounts and other far-right and white supremacist accounts found by Media Matters are still active on the site, some of which have been restored after Mr Musk took over. CNN found on Wednesday that the University of Michigan ad appeared on the X account page of the prominent white nationalist Richard Spencer.

Despite concerns about hate speech, some advertisers remain on X. The National Football League (NFL), one of the platform's largest advertising partners, said on Tuesday that although it did not withdraw money from the platform, it had repeatedly expressed concerns about hate speech directly to the X leadership.

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