Disney increases Instagram advertising budget after it stopped advertising on X

Disney has increased its ad budget on Meta's Instagram by up to 40% after halting advertising on X because of reports of antisemitism, reports Reuters.

Disney increases Instagram advertising budget after it stopped advertising on X
The study from Sensor Tower also highlights other advertisers moving their spending away from X which is owned by Elon Musk. Comcast is increasing Instagram advertising by 6 percent, while Paramount has increased its Snapchat expenditure as a result.

The backlash began after Musk was accused of being antisemitic following his response to a Tweet condemning Western Jewish communities. He has vehemently denied accusations of antisemitism. In fact, he went as far as to sue Media Matters, a left-leaning monitor.

As advertisers started pulling their spending, Musk lost his cool in a New York Times DealBook Summit interview. The CEO of Tesla told reporters, "If somebody's gonna try to blackmail me using advertising, blackmail me with money? You're gonna have to f*** yourself."

Linda Yaccarino, the social media platform's CEO is also being pushed. In a post regarding X on Wednesday, she said: "And here's my perspective when it comes to advertising: X is standing at an extraordinary and remarkable crossroads of Free Speech and Main Street -- as well as The X community is very strong and here to welcome you. To our partners who are committed to our work that is meaningful, thank you."

X has become unpopular among advertisers.
According to Reuters, Felipe Thomaz, associate professor of marketing at the University of Oxford said "Brands are aware of these choices and any brand safety concerns will be resolved with a re-allocation of budgets away from troubled platforms."

The entrepreneurial owner of X has since apologized for any alleged antisemitism. however, these new reports suggest that advertisers are unlikely be willing to grant him benefit of doubt.

Robert Iger, CEO of Disney said at the same event that an ongoing connection with Disney as well as X "was undoubtedly not a positive one for us."

Lou Paskalis, founder of marketing consultancy AJL Advisory, said that Musk's outburst marked the "closing section" for numerous brands as well as their advertisements on X. "They're not likely to forget that," he stated.