Ad exodus: Elon Musk's antisemitic remarks shake X

Concerns over the proliferation of antisemitic content and discussions on the social media platform X have intensified, reaching a critical point with advertisers like Apple Inc. pulling out their ads. Musk, who actively interacts with antisemitic users on X, endorsed a post asserting that Jewish people have a "dialectical hatred" of white individuals, to which he responded, "You have said the actual truth."The White House termed Musk's response as "unacceptable," emphasizing its potential threat to Jewish communities. Shareholders of Tesla Inc., where Musk serves as CEO, have also voiced concerns, with some calling for his suspension.The controversy follows a report from Media Matters revealing advertisements from major companies, including IBM, Oracle, Apple, Bravo and Comcast's Xfinity, appearing alongside pro-Nazi content on X. IBM was quick to suspend ads on the platform until the situation is addressed.In response to the backlash, the European Commission, Lions Gate Entertainment Corp., Paramount Global, Walt Disney Co., and Warner Bros. Discovery Inc. have all announced the withdrawal of their ads from X. The Anti-Defamation League reported a surge in antisemitism on X, increasing by over 900% in the week following the October 7 attack by Hamas.Musk has courted controversies in the past, including a satirical tweet comparing Canadian Prime Minister Justin Trudeau to Adolf Hitler. Some stakeholders, like Ross Gerber of Gerber Kawasaki Inc., have expressed concern that Musk's actions are detrimental to the brand and overall reputation of his companies.Apple, a major advertiser on X, announced a pause in showing ads on X, reflecting the precarious nature of their relationship with Musk, who took over the platform last year. Musk's remarks coincide with a global rise in antisemitism and Islamophobia amid the Israel-Hamas conflict.In the midst of this, Musk accused the Anti-Defamation League of undermining X's ad revenue by highlighting extremist content, contributing to a 60% decline in ad sales on the platform. The EC cited an alarming increase in disinformation and hate speech as a reason for staff to stop advertising on X.Despite X's efforts to address offensive content and label sensitive media, the controversy has triggered widespread concerns about the impact of Musk's statements on the brands associated with the platform. Shareholders and advocacy groups are calling for a response, ranging from censure to potential removal of Musk from his positions.

X to launch news wire service-XWire

media platform X is gearing up to introduce a news distribution service named XWire, with the intention of competing against established platforms like Cision's PR Newswire.To commemorate the one-year anniversary of Musk's takeover and transformation of Twitter into X, the company held a meeting. During this gathering, company executives expressed their vision of YouTube and LinkedIn as potential future competitors. This suggests that X is considering venturing into the realms of video streaming and recruitment.In fact, the company is already actively working on the latter. In July, a beta version of this service was launched through the account @XHiring. Verified organizations can utilize this service to showcase critical job openings on their profiles, effectively reaching millions of suitable candidates, as stated in the account's description.Furthermore, Musk has recently implemented changes to how news story links are presented on X. He has restricted the display of headlines in previews of third-party links, so that only the link's domain and the main image from the destination page are visible in tweets. This change eliminates additional context from the previews.

X to launch two new premium subscriptions

Elon Musk has announced that two new tiers of X Premium, earlier known as Twitter, subscriptions will be commencing soon. This announcement was made by the X owner via a tweet on the platform. The two tiers will be differentiated by advertisements. One of the options will cost less but will not have a reduction in ads, while the other will be more expensive and will block all ads. The exact costs of each tier are yet to be confirmed.This announcement comes as no surprise, since Musk has already started charging a few countries for basic access. This can be due to the fact that the ad revenue of X had fallen by 59%, and the company has been eagerly exploring new ways to generate revenue. Earlier this week, the company started charging new users $1 in New Zealand and the Philippines. Users who don’t opt to subscribe and wish to use it for free will only be able to read the content. Non-subscribers will not be able to interact with the tweets or write their own. They will only be able to watch and read content and follow users.The platform has been in the news and gone through its ups and downs since Musk’s takeover last year in October.X is not the only platform that’s shifting to different paid models, with most players now moving from a growth-based strategy to a more profitable strategy.Earlier in the year, Meta also rolled out a subscription model for its blue ticks on its platforms. Netflix also indicated a hike in prices for its ad-free model and opted to create a free advertising-based video-on-demand model for its users.

X launches pink app icon in partnership with Paris Hilton

X, formerly known as Twitter, has launched a pink app icon in partnership with Paris Hilton. It is its latest strategy to boost its ‘X’ Premium subscription offering. The social media platform has teamed up with entrepreneur and media icon Paris Hilton on a variety of initiatives, including a custom Paris pink X icon exclusively for X Premium subscribers. This partnership is part of a larger collaboration between Hilton’s 11:11 media company and X, which includes plans for Hilton to work on live video, live commerce, X Spaces (live audio), and more.Linda Yaccarino, CEO at X, announced that its her first major talent signing with the app, with Paris Hilton becoming the first celebrity to ink an exclusive content deal as part of X’s expanding video content push. Yaccarino’s initial Twitter growth strategy will involve pitching the platform to high-profile users, as a means to get more of them sharing their content to Twitter itself, as opposed to tweeting and linking to other sources, or sharing key updates in other apps.In addition to this, Hilton will also serve as a launch partner for new X products, services, and feature releases.