In a surprising turn of events, Hulu and Disney Plus cancellations are happening at a very rapid pace as Elon Musk calls out the companies that left ads on X (formerly Twitter), leaving the platform high and dry.
Amid the controversies over Musk suggesting he endorsed it anti-Semitic contents on the platform, CNBC interviewed him during the NYT DealBook Summit about all the wild developments going on with X’s ads.
After Elon Musk made a wild statement in response to the interviewer, calling out Disney CEO Bob Iger: Disney Plus cancellations started to spike around the world. People are also canceling their Hulu accounts because it’s a Disney product. #Cancel was trending on X. How did things lead to this? Here you will find a complete overview of the events.
Musk calls Disney’s 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 a interview with Elon Musk earlier this week, CNBC journalist Andrew Ross Sorkin stated that companies are abandoning X and no longer advertising on it.
At this Musk interrupted Sorkin and said: “I hope they stop. Don’t advertise.” According to The New York TimesMore than 200 advertisers have stopped issuing X advertisements in recent weeks.
When asked twice for confirmation, Musk continued: “If someone tries to blackmail me with advertising, blackmail me with money, do yourself a favor“. After a brief silence, Elon Musk said again: “Go fuck yourself, that’s clear?” Since then, there have been wild reactions worldwide, amid Musk’s response to X’s current advertising situation.
To support the eccentric Telsa founder, people are canceling their membership Disney Plus subscriptions in response to Elon Musk addressing Disney and other companies leaving X. Additionally, 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), let me explain the sentiment.
Musk’s gesture to protect X even after many advertisers left the platform was seen by many as a direct endorsement of Musk freedom of opinion. Elon Musk has the vision that the X platform is the best place to learn the truth (definitely). So by him basically giving the middle finger to Disney and other companies during his interview with CNBC, it has caused many users to cancel their Disney Plus subscriptions and see him as a advocate for freedom of expression.
Elon Musk’s response to anti-Semitic accusations
In the interview, when asked about the anti-Semitic allegations, Elon Musk clarified to CNBC “anti-Semitism was not my intention.” Moreover, he further posted on X to clarify his position on the matter. However, many companies have continued to halt advertising spend on X. This is due to ongoing controversies over the X platform (formerly Twitter) and Musk’s current controversial association with anti-Semitic content.
Recommended articles
Disney CEO’s Response to X Advertising Situation
During the NYT DealBook Summit, Disney’s CEO also addressed the company’s decision to stop advertising on Elon Musk’s X (formerly Twitter). Lou Palkis is a marketing expert (from AJL Advisory Founder & Chief Executive). According to NYTimes, Lou said that advertisers don’t return to X. It is like that because “the potential loss of reputationoutweighs the advertising value if they come back.
“I have a lot of respect for Elon and what he has achieved. We know that Elon is larger than life in many ways, and that his name is strongly associated with the companies he founded or owns. Because he took the position he did in a public way, we felt like the association wasn’t necessarily positive for us.” – Bob Iger, CEO of Walt Disney
Amid the advertising controversies at X (formerly Twitter), Disney is suffering now too. But yes, there is a strong shift in support, favoring Elon Musk & X over the former advertisers. Many continue to cancel Disney Plus due to Musk’s statement in defense of X.
Year to date, Disney’s stock price is down ~2.44% on the 5D chart, and we expect the feud between X and Disney to continue in the coming weeks. We will keep you informed of further developments!
What do you think of 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!
