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According to the Kobeissi Letter which is a prominent commentary on the global capital market, there have been overall reports of the public canceling Disney+ subscriptions following Elon Musk's criticism of the firm.
Kobeissi Letter, shortly after Elon Musk’s remarks during an interview at the 2023 DealBook Summit in New York, around a thousand users shared screenshots of canceled Disney+ subscriptions within hours. This trend is not exclusive to Disney, as Paramount Plus users have reported similar cancellations.
During his conversation with journalist Andrew Ross Sorkin, Musk addressed advertisers leaving his X platform due to the sentiment he expresses on the app. He notably singled out Disney CEO Bob Iger in the audience, showing apparent indifference to advertisers leaving and suggesting he wouldn’t be coerced.
Musk indicated that his followers might boycott these advertisers, attributing any potential company downfall to them. Despite facing backlash and advertiser exits over controversial posts, including accusations of promoting hate speech, Musk defended his stance on free speech rather than acknowledging antisemitic or racist implications.
Even as prominent figures like Paris Mayor Anne Hidalgo abandoned the platform, Musk stood firm on his position. X CEO Linda Yaccarino defended Musk’s statements, portraying X as a platform enabling independent information, albeit uncomfortable for some.
Overall, Musk’s controversial remarks and stance on free speech have caused rifts with advertisers and users alike, impacting the platform’s standing in the market.
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