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Advertisingboycott

All articles tagged with #advertisingboycott

world-news2 years ago

"Advertisers Boycott TV Station Over Controversial Auschwitz Remarks"

Polish prosecutors are investigating right-wing TV Republika after guests made offensive comments suggesting migrants should be sent to Auschwitz or tattooed/microchipped like dogs. Companies, including IKEA, Carrefour, and MasterCard, have withdrawn advertising from the station in response. The comments have sparked widespread condemnation, including from the Auschwitz-Birkenau state museum and Prime Minister Donald Tusk, who criticized the xenophobia that had been previously encouraged by the former government and current President Andrzej Duda. The public's growing impatience with hate speech is reflected in the backlash and advertising boycotts.

via The Associated Press|
##advertisingboycott#auschwitz
business-and-finance2 years ago

Elon Musk's X Valuation Plummets Over 70% Since Twitter Takeover, Fidelity Reports

Fidelity's securities filing reveals that the social media platform X, previously known as Twitter, has significantly dropped in value, now estimated to be 71.5% less than when Elon Musk bought it in October 2022. The platform has faced numerous controversies, including an advertising boycott from major companies like Disney, Apple, and Coca Cola, following Musk's endorsement of an antisemitic post. Despite an apology from Musk and the potential financial risks, he remains defiant against what he perceives as advertising blackmail.

via CBS News|
##advertisingboycott#business-and-finance
business-and-finance2 years ago

Elon Musk's X Valuation Plummets, Fidelity and Experts Assess the Fallout

As Twitter faces significant financial losses and an advertiser boycott, experts are divided on whether Elon Musk would consider selling the platform. Despite the challenges, including a sharp decline in the company's valuation and the need to service substantial debt, Musk's commitment to the platform as a "digital town square" and his vision for it as an "everything app" suggest he may not be inclined to sell, viewing it as an admission of defeat. However, some experts believe Musk might opt for a partial sale to raise funds for expansion. Musk himself has acknowledged the existential risks but seems prepared to face them, even blaming advertisers for potentially "killing the company."

via ABC News|
##advertisingboycott#business-and-finance
business-and-finance2 years ago

"Fidelity Reports Elon Musk's X Valuation Plummets Over 70% Since Twitter Purchase"

Fidelity has significantly reduced the valuation of its investment in X holdings, the parent company of X (formerly Twitter) owned by Elon Musk, by 71.5%. Despite acquiring a stake for $19.2 million in October 2022, Fidelity has continued to mark down the valuation, with the latest cut following a 65% reduction in October 2023. X, under new CEO Linda Yaccarino, aims to be profitable by 2024 but faces challenges in retaining advertisers after controversial statements by Musk and his decision to reinstate banned accounts. The company is shifting focus to small and medium businesses for advertising revenue to counteract the loss from major advertisers' boycotts.

via TechCrunch|
##advertisingboycott#business-and-finance
business-and-finance2 years ago

Elon Musk's X Valued at Just 29% of Purchase Price, Fidelity Reports

Fidelity Investments reports that the value of the company formerly known as Twitter, now referred to as X, has plummeted by 71.5% since Elon Musk's acquisition in October 2022. Despite Musk's initial $44 billion investment, Fidelity's revaluation reflects a significant loss, exacerbated by a substantial drop in advertising revenue and a debt burden. The decline in value follows a tumultuous year, including an advertising boycott from major companies like Disney and IBM after Musk's controversial endorsement of an antisemitic post. Musk's confrontational stance towards advertisers and acknowledgment of the existential threat posed by the boycott underscore the platform's financial and reputational challenges.

via Business Insider|
##advertisingboycott#business-and-finance