Late last year, Verizon Communications got an unusual message from a media company that wanted its business: Spend your ad dollars with us or we’ll see you in court.
The threat came from X, the social-media platform that has been struggling to resuscitate its ad business after many corporate advertisers fled over concerns about loosened content-moderation standards following Elon Musk’s $44 billion purchase in late 2022.
It worked. Verizon, which hadn’t advertised on X since 2022, pledged to spend at least $10 million this year on the platform, a person familiar with the matter said.
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