Asking the 5th Circuit to reverse Boyle, X argued that marketers conspired to boycott X, “eliminat[ing] the independent decision-making that would otherwise require each company to weigh the competitive advantages of continuing to market on the platform, reducing competitive competitions and insulating the boycott from market forces. The group boycott targeting X therefore misshapes competitors in several markets in clear conflict of the antitrust laws.”

X’s claims connect to the Global Alliance for Responsible Media (GARM), an effort by the World Federation of Advertisers to specify violent and profane material and assistance marketers produce brand-safety standards. The advertisement market closed down Garm after Musk submitted the claim in 2024, though law teachers explained X’s legal case as a weak one.

X’s filing the other day stated that GARM “worked out cumulative power through its guidelines for subscription. As a condition of signing up with GARM, members concur[d] to embrace GARM options to enhance organization operations.’ For GARM’s marketer and ad agency members, that implied consenting to implement the execution of the Brand Safety Standards by the social-media platforms from which they bought marketing.”

X’s huge advertisement profits drop

X, then called Twitter, suffered a big drop in marketing income after Musk purchased the business in October 2022 and made significant modifications to content small amounts. Marketers kept away, fretted that advertisements would appear beside antisemitic posts, false information, and other objectionable material.

Particular numbers on X advertisement profits were tough to come by the previous couple of years since Musk took the business personal when he purchased Twitter. X Corp. is now a subsidiary of SpaceX, which just recently went public and need to report profits.

SpaceX’s incomes report today stated the business made $367 million in marketing income in Q2 2026, below $426 million in Q2 2025. For the very first 6 months of 2026, advertisement earnings was $710 million, below $870 million in the very first 6 months of 2025.

Twitter reported much greater advertisement profits before being purchased by Musk. “X’s present quarterly advertisement earnings has actually dropped a lot more significantly compared to the last quarter before Musk purchased the popular social-media platform,” MediaPost reported. “In the 2nd quarter of 2022, Twitter reported $1.08 billion in advertisement profits, approximately $713 million more than Q2 2026.”