- Elon Musk literally said "f**k you" to the companies who stopped advertising on X in an interview at the New York Times DealBook Summit 2023.
- Musk said he will not be blackmailed by factors like money and advertising revenue and is being viewed as a free-speech advocate by many.
- People are canceling Disney Plus and Hulu subscriptions to support X and boycott Disney, amidst the controversial X (Twitter) advertising situation.
In a surprising turn of events, Hulu and Disney Plus cancellations are happening at a very high rate due to Elon Musk addressing the companies that left advertising on X (formerly Twitter) leaving the platform high and dry.
Amidst the controversies about Musk that suggest he endorsed antisemitic content on the platform, CNBC interviewed him during the NYT DealBook Summit about all the wild developments ongoing with X’s advertising.
After Elon Musk made a wild statement in response to the interviewer, calling out Disney CEO Bob Iger, Disney Plus cancellations started to peak all around the world. People are canceling their Hulu accounts too, being a Disney product. #Cancel was seen trending on X. So how did things lead to this? Here is a complete rundown of the events.
Musk Calls Out Disney CEO on Stage
Disney, along with many other companies, recently took a stand against X and decided to no longer advertise their brand on the platform. During an interview with Elon Musk earlier this week, CNBC journalist Andrew Ross Sorkin stated that companies are leaving X and no longer advertising on it.
To this, Musk interrupted Sorkin and said “I hope they stop. Don’t advertise.” According to The New York Times, over 200 advertisers have stopped spending on X advertising in recent weeks.
Upon being asked for confirmation twice, Musk continued, “If someone is trying to blackmail me with advertising, blackmail me with money, go f**k yourself“. After a short silence, Elon Musk again said “Go f***k yourself, is that clear?” Since then, there have been wild responses globally amidst Musk’s response to X’s current advertising situation.
To support the eccentric Telsa founder, people are canceling their Disney Plus subscriptions in response to how Elon Musk addressed Disney and other companies who left X. Moreover, several X users are reportedly subscribing to X’s paid plans (Premium and Premium Plus), after sharing their Disney Plus subscription cancellations to support the platform.
If you’re wondering what exactly is the reasoning behind people supporting Musk and X (formerly Twitter), I’ll explain the sentiment.
Musk’s gesture towards protecting X even after many advertisers left the platform has been viewed by many as Musk directly supporting free speech. Elon Musk has a vision for the X platform to be the best place to learn the truth (surely). So, with him essentially giving the middle finger to Disney and other companies, during his interview with CNBC, has resulted in many users canceling their Disney Plus subscriptions viewing him as a free speech advocate.
Elon Musk’s Response to Anti-semitic Allegations
In the interview, when questioned over the anti-semitic allegations, Elon Musk clarified to CNBC that “antisemitism was not my intention.” Moreover, he further posted on X clarifying his viewpoint on the same. However, many companies have continued to stop spending on advertising at X. This is because of continued controversies over the X platform (formerly Twitter) and Musk’s current controversial association with antisemitic content.
Disney CEO Response To X Advertising Situation
During the NYT DealBook Summit, Disney’s CEO also elaborated upon the company’s decision to stop advertising on Elon Musk’s X (formerly Twitter). Lou Palkis is an expert on marketing (from AJL Advisory Founder & Chief Executive). According to NYTimes, Lou said that advertisers are not returning to X. This is because “the potential loss on reputation” outweighs any advertising value if they are to come back.
“I have a lot of respect for Elon and what he has accomplished. We know that Elon is larger than life in many respects, and that his name is very much connected to the companies he founded or owns. By him taking the position he took in a public manner, we felt that the association was not necessarily a positive one for us.” – Bob Iger, Walt Disney CEO
Amidst the advertising controversies at X (formerly Twitter), Disney too is suffering now. But yes, a stark shift in support is happening, favoring Elon Musk & X instead of the former advertisers. Many continue to cancel Disney Plus because of the statement made by Musk defending X.
So far, Disney’s stock price has dropped by ~2.44% on the 5D chart, and we expect the spat between X and Disney to continue in the coming weeks. We will keep you updated on further developments!
What are your thoughts on Elon Musk’s response defending X and asking advertisers to stop paying them to advertise on his platform? Let us know in the comments below!