A surge of advertisers are distancing themselves from social media platform X as the site, formerly known as Twitter, is engulfed in a controversy over antisemitism.
Apple, Disney, Comcast, and Warner Brothers Discovery have all decided to stop advertising on X, according to US media. This follows IBM's lead.
The European Commission, Paramount Television, and Lionsgate Films have all withdrawn advertisement money from X.
Following Elon Musk, the proprietor of X, amplifying an anti-Jewish stereotype.
The corporate boycott has been gaining momentum after a US organization conducted an investigation which exposed advertisements that were appearing alongside pro-Nazi posts on X.
A representative of X informed the BBC on Thursday that they make no attempt to have brands adjacent to such content and are actively seeking to combat antisemitism.
On Wednesday, Mr Musk drew criticism for responding to a post containing an antisemitic conspiracy theory which he dubbed as "actual truth".
Tesla and SpaceX billionaire Elon Musk refuted any accusations of antisemitism, clarifying that his remarks were only in regards to certain groups such as the Anti-Defamation League (ADL) and other Jewish organizations.
The White House expressed disapproval of Mr Musk's promoting of the post.
"Andrew Bates, spokesperson, vehemently condemned this pernicious promotion of antisemitic and racist hate," was stated.
On Friday evening, the ADL, a prominent detractor of X's policies concerning inflammatory material, gave rare commendation for Mr Musk's measures to tackle hatred on the platform.
Mr Musk had put out a statement on X saying that utilization of phrases like "from the river to the sea" - as recognized by the ADL as an expression which implies Israel's demise - might result in a suspension from the platform.
Jonathan Greenblatt, chief executive of the Anti-Defamation League, responded positively to the announcement, saying "this is an important and welcome move."
On Friday evening, Linda Yaccarino, X's CEO, declared that the platform has been fully transparent concerning their struggle against antisemitism and discrimination. She added that there can be no tolerance for it in any corner of the world.
The result of the investigation conducted by Media Matters for America, a left-leaning pressure group, is an advertisement boycott. This research discovered that the companies' ads had been placed along with posts containing Nazi quotes, glorification of Nazis, and Holocaust denial.
On Thursday, IBM made the decision to remove its ads from the site, citing that the presence of Nazi content alongside its ads was "totally unacceptable".
X claims they have more rigorous brand protection measures than other social networking sites, resulting in a decrease in vitriol and extremism though the staff members responsible for safety have been downsized significantly.
Various external organizations differ in opinion and argue that this type of content has gotten more frequent since Mr Musk began his reign.
The amount of X's revenue that comes from ads is not known, as the firm is now a private entity and does not provide quarterly reports any longer.
Prior to Mr Musk becoming head of Twitter, around 90% of its income was generated through advertising.
Mr Musk has endeavored to diminish its dependence on ad revenue by attempting to establish a paid-subscription tier.
If you opt in to the monthly fee, you can get a blue tick by your name, and your content will be promoted; however, this makes up for only a small chunk of the total revenue.
In April, Mr Musk told the BBC in an interview that almost all of the advertisers had returned or had plans to return.
He accepted in a post on X three months after that ad revenue had dropped by 50%.
The hiring of Ms Yaccarino, a former ad executive, was perceived as an effort to improve connections with advertisers.
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Observe: In August, X removed a flashing sign following complaints.
Establishing such connections is challenging when the proprietor of the organization is the individual who is posting the contentious messages.
Advertisers' worries that the platform doesn't adequately moderate content are at odds with Mr Musk's insistence on free speech.
Last month, Ross Gerber, a Twitter investor, was interviewed by the BBC, and he indicated that advertisers had concerns over Nazi content which was not being eliminated.
He asserted that nearly all brands would concur that they do not wish for their ads to be located in close proximity to Nazis.
"It is ludicrous to let advertisers go because of Nazi voices."
Despite the fact that Mr Musk is the wealthiest person globally, he still took out billions in loans to purchase Twitter, which require interest payments.
If he cannot stop the stream of advertising money away from the platform, it may become a bigger financial burden.
This article was also reported on by Kayla Epstein, Matt Murphy, and Mike Wendling.
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