Facebook Boycott Grows: Ford Joins Coca-Cola, Starbucks And Other Brands

Facebook Boycott Grows: Ford Joins Coca-Cola, Starbucks And Other Brands

Starbucks said Sunday it would pause advertising on all social media platforms while it works with civil rights organisations to "stop the spread of hate speech".

Others pulling advertising from Facebook include Coca-Cola Co., Verizon Communications Inc., Honda Motors, Hershey Co., Arc'teryx, The North Face, Patagonia, Eddie Bauer, JanSport, Levi Strauss, Starbucks, Ben & Jerry's, and REI, among many others.

Champions of the boycott say Facebook has not done enough to keep white supremacists and racist, false and unsafe content off its platform.

They are also disappointed that the company has allowed users to call for violence against protesters fighting for racial justice in the wake of the deaths of several Black Americans.

"We reject hate and extremism and have pulled our organic content and paid ads from Facebook and Instagram until the end of July", a representative from MEC told Daily Hive in a statement.

The "Stop Hate for Profit" campaign will begin calling on major companies in Europe to join the boycott, Jim Steyer, chief executive of Common Sense Media, said in an interview with Reuters on Saturday. Shares closed at US$216.08 Friday after reaching a record US$242.24 the preceding Tuesday.

The advertiser boycott of Facebook has morphed into a global digital activist campaign aimed at curbing hateful and toxic content on the social media giant. In response, the campaign criticised Zuckerberg's response and offered ten steps that would "not be enough to address all of Facebook's problems, but they would be a start." .

Speaking to Reuters, James Steyer, CEO of the San Francisco-based non-profit, said "the next frontier" following the successful lobbying of corporations in the USA is "global pressure", with major European and Asian companies including Unilever and Honda to be pressed to freeze their Facebook ads globally, not just those running in the US.

Facebook has been cowering behind their stance that they support free speech as a way of maintaining an anything-goes stance on its platform, assuming that anything isn't a breastfeeding mother.

Many brands are not as reliant on Facebook as they once were because they have realized Instagram is more valuable for attracting younger customers and because Facebook has lost some of its more targeted advertising abilities after the data of up to 50 million Facebook users was misused by analytics firm Cambridge Analytica.

Annually, Facebook generates $70 billion in advertising sales and about a quarter of it comes from big companies such as Unilever with the vast majority of its revenue derived from small businesses. Another major brand, Pepsi, is reportedly weighing a similar move, following Starbucks, Coca-Cola, Unilever and dozens of other brands shifting their ad dollars away from Facebook.

The stock rebounded somewhat on Monday afternoon after dropping further in morning trading, gaining US$3.17 to US$219.25. As a result, Zuckerberg's net worth depleted to $82.3 billion.

McNeish doesn't think the losses will weigh on Facebook or Zuckerberg much.

"He's a huge organization, he can take quite a big hit on this and still be profitable and still continue to operate".

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