There’s a new marketing strategy at X, the social media platform formerly known as Twitter.
According to a front-page story in yesterday’s Wall Street Journal, the “X’s Sales Pitch [is] Give Us Your Ad Business or We’ll Sue.” Apparently, X’s owner Elon Musk and X’s CEO Linda Yaccarino launched a campaign to strong-arm advertisers who fled over the platform’s poor moderation standards back into X under the threat of lawsuits.
It worked with at least six companies, including Verizon and Ralph Lauren, according to the WSJ. Last August, X sued the World Federation of Advertisers and several advertisers, accusing them of engaging in an illegal boycott of their social media platform, in violation of antitrust laws. X’s legal argument is that these advertisers conspired to reduce their ad spend on the platform, pressuring X to comply with their content standards, which Musk’s management had loosened.
The platform claims that this coordinated action undermines competition and consumer interests.
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