IBM Pulls Adverts From Elon Musk's X Following Antisemitic Content Allegations
Portfolio Pulse from Benzinga Neuro
IBM Corp. (NYSE:IBM) has suspended advertising on the social media platform X after a report by Media Matters for America revealed that IBM's ads were shown next to antisemitic content. Other companies, including Apple Inc. (NASDAQ:AAPL), Bravo, Oracle Corp. (NYSE:ORCL), and Xfinity, were also found to have ads next to similar content. X, formerly known as Twitter, is under scrutiny as advocacy groups report an increase in controversial content since Elon Musk's acquisition. X's CEO is working to regain advertisers, and the platform has stated that the antisemitic content will not be monetized and will be flagged.
November 17, 2023 | 2:26 am
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NEUTRAL IMPACT
IBM suspends advertising on platform X due to its ads appearing next to antisemitic content, reflecting the company's stance against hate speech.
IBM's decision to suspend advertising on platform X is a move to maintain corporate responsibility and brand image. While this may not have a significant financial impact, it reflects the company's values and could influence public perception positively.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Apple Inc.'s ads were also displayed next to hateful content on platform X, which could potentially impact the company's brand image.
The association of Apple's ads with antisemitic content on platform X could harm the company's reputation for a short period. However, the financial impact may be limited unless there is a broader advertiser pullback or significant consumer backlash.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Oracle Corp.'s ads appeared alongside antisemitic content on platform X, which may affect the company's public image and advertiser relations.
Oracle's inadvertent placement of ads next to antisemitic content on platform X could lead to negative publicity, potentially affecting its brand image and relationships with advertisers in the short term.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50