MBA Career Growth: Walmart Halts Advertising on X, Joining Array of Companies – Fox Business

Last Updated on December 3, 2023 by Robert C. Hoopes

Title: Walmart Joins Other Major Corporations in Halting Advertising on Elon Musk’s Social Media Platform, X

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Walmart, the multinational retail corporation, has recently announced its decision to stop advertising on X, the social media platform owned by entrepreneur Elon Musk. The retailer confirmed this in a statement, noting that they have found alternative platforms that better align with their marketing strategies and target audience. This move adds Walmart to the growing list of companies that have ceased advertising on X.

According to a source familiar with the situation, Walmart’s decision to withdraw from advertising on X was a gradual process that unfolded over time. The company had not promoted its products on the platform since October. However, it is important to note that Walmart continues to engage with its extensive following on X, despite not running advertisements.

Since Musk’s acquisition of X in October 2022, the social media platform has struggled to retain advertisers. Recent controversies regarding antisemitic content have further accelerated this trend. Major corporations, including Disney, IBM, Apple, and Lionsgate, have all halted their advertising on X due to these concerns.

The controversy includes Musk’s endorsement of a user’s allegation that Jewish communities were fueling “hatred against whites,” sparking widespread condemnation. Additionally, reports surfaced of X advertisements being displayed alongside antisemitic content, intensifying the ongoing scrutiny and criticism.

Following the backlash, Musk issued an apology and publicly condemned antisemitism. X, in an attempt to counter the negative perception, submitted a defamation complaint against Media Matters for America over their report.

During a recent appearance at the New York Times DealBook Summit, Musk criticized advertisers who chose to distance themselves from the platform. However, Linda Yaccarino, CEO of X, attempted to address the situation, emphasizing the social media platform’s commitment to information independence and users’ ability to make their own decisions.

Walmart’s decision to stop advertising on X adds to the growing wave of companies opting out of the platform due to concerns over controversial content. It remains to be seen how X will navigate these challenges and whether it can regain the trust of advertisers moving forward.

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