Netflix has recently resumed advertising on the social media platform X (formerly known as Twitter) after a brief suspension. This decision followed an earlier move by Netflix and other major brands to pause their advertising on the platform due to a controversy involving Elon Musk, the owner of X.
The controversy began on November 15th, when Musk endorsed a tweet from a verified account that promoted an antisemitic conspiracy theory. He agreed with the post, stating, “You have said the actual truth.” This incident led to a significant backlash and prompted several major brands, including Disney, Paramount, Apple, Sony, and Lionsgate, to suspend their advertising on X in protest against Musk’s actions and the content of the tweet.
Following the backlash, Twitter’s CEO Linda Yaccarino emphasized the company’s commitment to combating antisemitism and discrimination, stating, “There’s no place for it anywhere in the world, it’s ugly and wrong”. Musk reacted to the advertising boycotts by criticizing the advertisers for oppressing free speech and subsequently filed a lawsuit against Media Matters on November 20th. At the Times Deal Book Summit on November 29th, he confronted the advertisers who suspended their ad purchases, telling them to “go f*** yourself,” although he also expressed regret for responding to the antisemitic post.
Netflix’s decision to halt advertising on X reportedly involved nearly $3 million worth of ads, according to The New York Times. This decision was part of a broader trend among large corporations, including Disney, Apple, IBM, and others, to remove advertisements from X following the controversy.
Recently, Netflix ads have begun reappearing on X, particularly promoting the films “Maestro” and “May December.” However, there has been no indication of Walmart, Disney, or other companies that participated in the boycott resuming their advertising on the platform.
This development signifies a shift in Netflix’s stance and reflects the dynamic nature of corporate advertising decisions in response to social media controversies. While the financial impact of the suspension was significant for X, with The New York Times estimating a potential loss of as much as $75 million in advertising revenue by the end of the year, the return of Netflix as an advertiser is a notable development.
In summary, the controversy surrounding Musk’s endorsement of an antisemitic tweet led to a significant reaction from major advertisers, including Netflix, with a temporary suspension of advertising on X. Netflix’s recent decision to resume advertising on the platform marks a significant turn in the saga, indicating a cautious re-engagement with the platform by at least one major brand.
