Elon Musk's X sees ad spending surge from Disney, IBM, Comcast

Elon Musk's social media platform X, formerly known as Twitter, has seen a rise in ad spending from brands like Comcast, IBM, Disney, Warner Bros. Discovery, and Lionsgate Entertainment. According to an Adweek report, which referenced data from marketing intelligence platform MediaRadar, these companies are increasing their investments on the platform.

The surge in advertising spending on Elon Musk's social media platform X has been linked to the victory of Republican candidate Donald Trump in the recent US elections. Musk, a prominent backer of Trump, has publicly supported the former president, endorsing him on X and contributing approximately $119 million to his campaign.

X's top advertisers, including Karma Shopping, Canles Shoes, and Kueez Entertainment, spent a total of $68 million this year. This follows a period of reduced spending by brands like Apple, which paused ads in November 2023 due to concerns over antisemitic content and hate speech on the platform.

Although ad spending on X has resumed, it remains significantly lower than previous levels. Comcast allocated under $1.5 million this year, while Warner Bros. Discovery spent approximately $1.1 million. Disney’s ad spend dropped to under $550,000, Lionsgate’s was less than $230,000, and IBM spent less than $2,000, as mentioned in the report. Apple has also resumed advertising on the platform, marking a shift from its earlier pause.

The report cited Max Willens, senior analyst at eMarketer, who stated, “X’s owner now has the ear of the president-elect, a man who has a long history of helping his friends, and punishing his enemies,” “Sending at least a trickle of ad spending toward X may be seen as good for business, albeit in an indirect way.”