Report: Amazon and Apple Considering Increasing Ad Spending on X
Amazon and Apple are reportedly considering increasing their ad spending on social media platform X.
Amazon is looking to spend “considerably more” after pulling much of its advertising from the platform more than a year ago, while Apple may return to the platform after pulling all of its ad dollars from there in late 2023, the Wall Street Journal (WSJ) reported Thursday (Jan. 30), citing an unnamed source.
Neither Amazon nor Apple immediately replied to PYMNTS’ request for comment.
X owner Elon Musk reposted a post about the WSJ article Thursday, commenting: “Much appreciated.”
Some advertisers left the platform formerly known as Twitter after it was purchased by Elon Musk in 2022, citing concerns about a loosening of content moderation and turmoil around the management changes, the WSJ report said.
However, some of these companies are reevaluating their decisions amid a changing political and social climate and the emergence of Musk as an influential figure around President Donald Trump, the report said.
Beyond said in March that it partnered with X to promote Overstock, Bed Bath & Beyond and Zulily on the social media platform.
The company said the strategic partnership would include the delivery of custom short- and long-form lifestyle entertainment content, the development of customer acquisition and retention strategies, and the opportunity to spotlight the company’s brands during key events and holidays.
“We are thrilled to be an integrated partner with X as they help us engage more effectively across their 100 million-plus U.S. users with both creative content and brand-specific promotional messaging,” Marcus Lemonis, executive chairman of the Beyond board of directors, said at the time in a press release. “We recognize the power of the X platform and level of engagement users have with it.”
X CEO Linda Yaccarino said in September 2023 that 1,500 advertisers had returned to the platform in the previous 12 weeks, with 90% of the company’s top 100 advertisers making a comeback.
Yaccarino said that the social media platform had implemented new content moderation tools and features to prevent ads from appearing next to certain content, adding that these had been introduced after Musk’s acquisition of the company.
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