Elon Musk’s most recent endorsement of a far-right conspiracy theory may have dealt the social media company the biggest blow yet.
Apple announced on Friday that it will suspend ads on X, the platform formerly known as Twitter, according to a new report from axios.
What does this mean for X?
This is a big problem and a bad sign for X. Apple had approved in other boycotts or join other advertisers in suspending ad campaigns during Musk’s first year with X. Apple spent about $100 million on advertising on the platform last year, according to a Bloomberg report from last November.
Apple’s decision to pause ads on the platform comes just days after Musk backed up an anti-Semitic conspiracy theory about X, which claims that Jewish groups are trying to replace whites with minority immigrant populations.
musk publications Support for these bigoted claims also coincided with a new report from Media Matters for America that found ads from several large corporations alongside pro-Hitler and pro-Nazi content. Among the brands that appear in these publications are advertisements from technology companies such as Apple and IBM.
The tweet may have been deleted.
On Thursday, IBM became the first of this group of advertisers to announce its suspension of ads on X. Apple, as well as leonsgate, did the same on Friday. It remains to be seen whether other X advertisers will follow in the footsteps of these technology companies.
X has fought with advertising sales since the Musk acquisition. Half of the platform’s largest advertisers stopped their advertising campaigns shortly after Musk’s acquisition last year. TO report June found that X’s advertising sales were down 60 percent compared to the previous year.