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In recent developments, Elon Musk's website X has reportedly reached a preliminary agreement to drop its lawsuit against Twitch after initially inciting legal action against the platform in November 2024. To sum it up, Musk believes that Twitch worked with other companies and the Global Alliance for Responsible Media (GARM) to avoid advertising on X voluntarily.
According to Reuters, Twitch was mentioned in a recent court filing in which X indicated that a "memorandum of understanding" has been signed, stipulating that the case against Twitch will be dismissed if certain unspecified conditions are met by the end of 2025:
"X told a federal judge in Texas that it signed a 'memorandum of understanding' to drop its case against Twitch if the Amazon.com subsidiary met certain unspecified conditions by the end of the year."
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This development follows a similar settlement with Unilever, which was previously removed from the lawsuit after agreeing to specific brand safety standards on X.
That being said, Elon Musk's company continues to move against other defenders, including CVS, Pinterest, and Colgate-Palmolive. The initial lawsuit alleged that these companies deliberately withdrew their ads from X, particularly after Musk acquired the platform in October 2022.
How did Twitch's advertising boycott affect Elon Musk's company?
For context, the collective boycott or withdrawal of advertising on X by Twitch and its associates has allegedly led to significant advertising revenue losses on X. Reports indicate a nearly 40% drop in ad revenue during the first half of 2023. Major brands, including Disney and Apple, paused their advertising due to concerns about their ads appearing alongside harmful content.
Additionally, internal documents indicate that over 200 advertisement units from various companies, including Airbnb, Coca-Cola, and Microsoft, stopped or are considering halting their ads on X, putting approximately $11 million in revenue at risk.
In terms of streaming, Elon has advocated for X as a live broadcasting platform in the past, encouraging streamers from other websites to consider multi-streaming on his website.
It should be noted that Elon Musk has a history of streaming as well, specifically with his live Path of Exile 2 gameplay. In 2024, Musk admitted to account boosting to achieve high rankings on the game, leading to criticism from the gaming community and streamer Asmongold.
