X's loss is Instagram's gain: Advertisers increase spending on rivals

It seems that Elon Musk's use of profanity while addressing advertising issues with big brands is coming to bite back X (formerly Twitter). According to a report, US companies, including Walt Disney and Comcast, have increased their advertising spending on rival platforms like Instagram.

According to a report by Sensor Tower (via news agency Reuters), big US companies have increased advertising spending on Instagram after pausing commercials on X last month. The brands hit a break on advertising on Musk-owned platform after he agreed with a user on antisemitic content.

While Disney has increased spending on the app owned by Meta by 40%, Comcast is spending about 6% more on advertising on Instagram. The data captured is for the two weeks starting from November 20. Paramount, meanwhile, tripled its spending on Snapchat.

Musk attacks advertisers

In late November, Musk told advertisers boycotting his social media platform to "Go f**k yourself."

“Don’t advertise,” he told over 100 advertisers who chose to pause advertising, at The New York Times’s Dealbook conference.

“If somebody is going to try to blackmail me with advertising, blackmail me with money, go f**k yourself. Go f**k yourself. Is that clear? I hope it is,” he added.

He also took a shot at Disney CEO Bob Iger, who earlier in the day, clarified that he doesn't want his company to be associated with Musk in any way.

“We just felt that the association with… Elon Musk and X was not necessarily a positive one for us,” Iger said.

Reportedly, more than 100 advertisers, including the likes of Apple, and Disney among others, have stopped advertising on X.

Recently, a report said that X may lose as much as $75 million in advertising revenue by the end of the year. Musk also said that if the advertisers don’t return, it will be the end of X.

“What this advertising boycott is gonna do is it’s gonna kill the company. The whole world will know that the advertisers killed the company,” he said, adding that, “we will document that in great detail.”

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