When Elon Musk isn’t trying to get to space or lowering the prices of Model S and Model X Teslas, he’s being the CEO of the ever-popular social media site, Twitter.
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Musk, who was rumored to buy the Walt Disney Company last year, is a man who has a lot on his plate. Since reluctantly purchasing the company on October 27 of last year for $44 billion, Musk has been trying everything he can to keep the company afloat. And while he claims the company is doing better than ever, backlash and controversy have caused advertisers to pull out of Twitter in recent months.
With moderated content and the rise of hate speech on the platform after going private, big brand names began to scale down, or drop out all together, in their advertisements on Twitter late last year. These companies included General Mills, Pfizer, Audi, and Volkswagen, to name a few.
But not all companies have done so. Several large brands are still happily loyal to Twitter as they continue to advertise on social media network. Musk shared this past Tuesday at a Morgan Stanley media conference that he is thankful companies like Disney are not pulling their ads from the platform. As a matter of fact, Disney seemed to be on the top of his list as far as contributors go.
“Disney is a major advertiser on Twitter, one of our biggest advertisers,” said Musk.
One of the reasons why other brands have been more cautious about advertising on the network is due to the media expressing how ads might be associated with negative material that is being posted on the site ( e.g., hate speech, non-family-friendly content). Musk addressed this alongside his gratitude for Disney.
He stated, “Disney, of course, does not want to have its ads next to things that are not appropriate for a family audience.” Musk then concluded his point with, “Advertisers can actually adjust what content they are comfortable having.”
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Along with Disney, Musk also thanked Apple and Warner Brothers Discovery for still advertising on the platform as well. It could be debated which one of these large companies has paid Twitter the most for ad space, but everyone knows “Big Daddy” Disney is not shy when it comes to spending money on advertising. Statista, an online platform specialized in market and consumer data, reported that Disney spent over 5 billion dollars in advertisements in 2021 alone.
Overall, Musk wants Twitter to be a place where advertisers can feel comfortable sharing their ads without worrying about harmful material bringing down their brand’s image. He expressed that Twitter is a place where freedom of speech is allowed but also where you come to find the truth.
Twitter will be the place where world participants go to find the truth with the least amount of error. @elonmusk pic.twitter.com/tTgABs3u37
— Teslaconomics (@Teslaconomics) March 8, 2023
Twitter, after all, is still one of the best ways to get the latest news within minutes. Even our authors here at Inside The Magic rely on Twitter as a reliable source. So on behalf of all of us, thank you, Disney, for keeping Twitter alive with your paid advertising. Without it, we’d be missing out on many breaking Disney news and stories.
How often do you rely on Twitter for breaking news? Let us know in the comments below.