Elon Musk attended the Cannes Lions Festival to win back advertisers after many left X (formerly Twitter) due to brand safety concerns and Musk's controversial posts. At the event, Musk softened his previous harsh comments directed at advertisers, clarifying that his remarks were aimed at those insisting on censorship. He emphasized the importance of X being a free speech platform and stated that advertisers have the right to choose content that aligns with their brand.
Musk highlighted X's influential users and improved ad-targeting capabilities, mentioning the use of AI to enhance ad relevance. He reassured advertisers about brand safety, claiming third-party reviewers have given X high marks. Despite these efforts, X's ad revenue dropped by nearly 50% in 2023, and its market value has significantly declined since Musk's acquisition.
Journalist Kara Swisher and Pivot co-host Scott Galloway noted the challenges X faces, including managing Musk's controversial behavior and the platform's association with toxic content. Galloway pointed out that a significant portion of online child exploitation content originated from Twitter, making brands hesitant to advertise on the platform.
