Elon Musk's speech at Cannes Lions aimed to clarify his controversial remarks towards advertisers and defend free speech on his platform, X. He reassured advertisers of X's commitment to good advertising standards and emphasized the importance of having a global free speech platform.
Advertisers withdrew from X after Elon Musk appeared to endorse an antisemitic post on the platform amid the war between Israel and Hamas. Additionally, some ads from major companies appeared next to pro-Nazi and white nationalist content, further prompting companies to pause their ad buys.
Some advertisers pulled their ads from platform X last year due to concerns about antisemitism and hate speech on the platform. This followed Elon Musk's endorsement of an antisemitic conspiracy theory and the appearance of major companies' ads alongside pro-Nazi content. Companies such as Disney, Apple, and IBM suspended their advertising on X, potentially costing the platform millions in revenue.