Elon Musk appears to be trying to seize the opportunity amid the turmoil in Meta Platforms Inc.’s META advertising system to lure back advertisers that left his social media platform, X formerly Twitter in November last year.
What Happened: Following reports of significant issues in Meta’s advertising system, which led to higher ad campaign costs, poorer results, and reduced sales for marketers, Musk, on Thursday, invited advertisers to return to X.
Thomas Slabbers, X marketing partner, took to the microblogging site and said that in light of marketers reportedly complaining that Meta’s once reliable ad-system has been faltering, “we are onboarding so many new advertisers on X now.”
In response, the tech billionaire stated, “Advertise on X.”
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In a separate post on X, Musk also said that the platform’s ad relevance “has greatly improved.”
Why It Matters: Musk’s latest move comes after he mocked Mark Zuckerberg-led tech giant’s advertising system just a day before, likening Facebook links to an AOL Email Address. This appears to be hinted at saying that both Facebook and AOL were once dominant players in their respective fields, but now they aren’t relevant.
The tech mogul has been at odds with major advertisers like Walt Disney Co. and Apple Inc. for months now. He has been relentless in his efforts to bring back advertisers who pulled their ads from X, accusing of unfair practices.
The Tesla CEO has previously slammed Disney’s ad spending on Meta amid Instagram’s child exploitation allegations and even fired shots at Disney’s CEO Bob Iger, calling him out for having “double standards.”
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