Several major brands, including Comcast, IBM, Disney, Warner Bros. Discovery, and Lionsgate Entertainment, have quietly resumed advertising on X (formerly Twitter) after a year-long hiatus. These companies had previously pulled back their spending due to concerns over content moderation and safety issues on the platform. While they have returned, their investment has been significantly scaled back.
Between January and September 2024, these brands collectively spent under $3.3 million on X. This marks a staggering 98% drop compared to the $170 million they spent during the same period in 2023, according to marketing platform MediaRadar.
Why the Boycott Began: Concerns Over Antisemitism
The exodus of advertisers started in late 2023, following a controversial period where ads from major brands were placed next to antisemitic content and hate speech on X. This situation worsened when Elon Musk, the platform’s owner, endorsed an antisemitic conspiracy theory, leading companies like Apple, Comcast, and Disney to pause their campaigns for good.
While some have resumed their presence, Apple remains absent. Interestingly, MediaRadar found that X’s top advertisers in 2024 are smaller, challenger brands like Karma Shopping, Canles Shoes, and Kueez Entertainment. These companies collectively spent $68 million to take advantage of a less competitive advertising landscape.
A Shift in Advertising Strategy
X’s pivot toward attracting smaller advertisers could be a sign of its evolving advertising model. Meghan Fraze, Chief Product Officer at MediaRadar, noted that this could signal a move toward a “long-tail” advertising strategy, where emerging brands find it easier to connect with users in a less crowded environment. However, large, legacy advertisers remain hesitant. IBM mentioned that its strategy on X hasn’t changed, but Comcast, Disney, and Lionsgate did not respond to media inquiries. Warner Bros. Discovery also declined to comment.
Trust in X Continues to Erode
A global survey by Kantar found that 26% of senior marketers plan to cut their spending on X in 2025, while only 4% trust the platform for brand safety—far lower than Google Ads, which enjoys 39% trust. The survey results reflect ongoing concerns about the platform’s content moderation practices, particularly in light of Musk’s political ties.
Max Willens, senior analyst at eMarketer, noted that Musk’s connections with President-elect Donald Trump could influence advertisers’ decisions to invest, albeit in small amounts, in X. “For businesses looking to maintain favorable relations, even modest ad spending on X might be seen as beneficial,” Willens said.
Legacy Brands Slash Spending
The decline in ad spending from traditional advertisers is a clear indication of X’s struggles. MediaRadar’s data shows that Comcast spent less than $1.5 million on X in 2024, Warner Bros. Discovery spent $1.1 million, and Disney spent under $550,000. Lionsgate and IBM’s investments were even lower, with IBM contributing less than $2,000.
One notable example was Comcast’s carousel ads, which highlighted its investments in Universal Orlando Resort and were designed to drive traffic to its website.
Declining Ad Revenue and User Drop-Off
Despite these efforts, X’s ad revenue for the first three quarters of 2024 totaled $1.8 billion, down 29% from the previous year’s $2.5 billion. On November 6, the day after the U.S. presidential election, X saw a spike in web traffic, attracting 46.5 million visits—a 38% increase from the daily average in recent months. However, this uptick in traffic coincided with the loss of 115,000 users, the largest single-day drop since Musk took over in 2022, according to Similarweb.
As Willens observed, advertisers returning to X are likely drawn to its politically engaged audience, which may be especially relevant during high-profile events like elections.
Despite efforts to stabilize its ad platform, X continues to face backlash for its inability to adequately manage harmful content. Following the U.S. election, online abuse targeting women surged, with harmful rhetoric gaining traction on both X and TikTok, according to the Institute for Strategic Dialogue.
