Disney, IBM, Warner Bros. Discovery, Comcast, and Lionsgate Entertainment have resumed advertising on X (formerly Twitter) after a year-long hiatus. The companies pulled their advertising in late 2023 due to concerns over the platform’s content moderation, but have now cautiously re-entered the space. Despite their return, the financial commitment from these brands has drastically dropped. According to MediaRadar, these companies spent a combined $3.3 million on X between January and September 2024, a staggering 98% reduction compared to the $170 million they spent in the same period in 2023. The boycott began in November 2023, when ads from major companies appeared alongside antisemitic content and hate speech on the platform. The situation was exacerbated after X owner Elon Musk reportedly endorsed an antisemitic conspiracy theory, prompting a coalition of 163 Jewish leaders, activists, and academics to call for companies to halt their advertising on the platform. This was part of a broader backlash against X’s moderation practices under Musk, which critics argued allowed harmful content to proliferate. Major brands, including Disney, IBM, and Amazon, chose to suspend their ads in response. While traditional advertisers have scaled back, smaller challenger brands have stepped in to fill the gap. MediaRadar reports that brands like Karma Shopping, Canles, and Kueez have spent over $68 million on X in 2024, capitalising on the reduced competition. This shift hints at the potential for X to adopt a “long-tail” advertising strategy, catering to smaller advertisers seeking to reach audiences without facing the intense competition from larger brands. Meghan Fraze, Chief Product Officer at MediaRadar, noted, “This suggests that X might move to a long-tail advertiser strategy. This would benefit new brands looking to connect with audiences without the intense competition.” The return of major advertisers has been attributed to the leadership of X’s CEO, Linda Yaccarino. Her efforts to rebuild trust and improve content moderation have been recognised by many, including Elon Musk, who expressed his gratitude on X for the return of advertisers. Musk tweeted, “Thanks @lindayaX and the whole X team for your hard work in restoring confidence in our platform and ensuring that advertising content only appears where advertisers want it shown.” While IBM has stated that its stance on X remains unchanged, other major companies like Disney, Comcast, and Warner Bros. Discovery have not commented on their return. This silence suggests that these brands remain cautious, despite having resumed advertising. The outcome of the 2024 US election may also impact advertising strategies on X. Musk’s close ties to President-elect Donald Trump could influence how brands navigate content moderation on the platform moving forward. As the political landscape evolves, brands may need to reassess their strategies and adjust to the changing dynamics on X. The return of major advertisers to X signals a cautious shift in the platform’s advertising ecosystem. While large brands have resumed their campaigns, their significantly reduced budgets underscore ongoing concerns over content moderation. Meanwhile, smaller brands are seizing the opportunity to capitalise on a less crowded advertising space, pointing to a potential shift in X’s future strategy. The platform faces a delicate balance between appeasing traditional advertisers and continuing to attract new, smaller players.