Microsoft, Coca-Cola, Pepsi join Facebook ad boycott

Microsoft, Coca-Cola, Pepsi join Facebook ad boycott

Capossela seems confident that despite ongoing communication between Microsoft and Facebook, the company's suspended marketing efforts on the social media platform will continue beyond the Stop Hate for Profit boycott deadline of July, and will most likely continue well into August.

Some advertisers are additionally motivated by a desire to preserve "brand safety", objecting to their promotional material appearing next to inappropriate content. Capossela of Microsoft, for instance, cited "hate speech, pornography, terrorist content, etc", as examples that concerned his company.

While the unlikely mix of companies likely represents a similarly heterogenous mixture of motivations for temporarily suspending their Facebook ad spending, the initiative does make specific policy demands. Of course it's incredibly hard and upsetting to read that", Hatch said, "but equally, whether it directed at creating hate, and real world harm in particular ...

With several MNC giants stopping ads on Facebook, the social networking site and its founder-CEO Mark Zuckerberg have suffered huge valuation losses recently.

"What would you do with $70 billion?"

Still, if there's a surefire way of getting Facebook's attention, vocal complaints by big advertisers rank high. According to the campaign, Facebook "allowed incitement to violence against protesters" fighting for racial justice in America in the wake of George Floyd, Breonna Taylor, Tony McDade, Ahmaud Arbery, Rayshard Brooks and so many others.

Shares of Facebook (FB) fell almost 3% in early trading Monday, before rebounding, after big brands such as Starbucks (SBUX), Coca-Cola (CCEP) and Hershey's said they would pause spending on the social media platform over concerns about its handling of misinformation and hate speech.

Larry Chiagouris, a Pace University marketing professor, said most brand boycotts in recent years have fizzled out as initial enthusiasm fades.

Starbucks will pull ads from all social media platforms while it takes a deeper look at where its money is going and what it supports, the company said Sunday. We will take this time to reassess our advertising policies to determine whether revisions are needed. The campaign also alleged that Facebook had "turned a blind eye to blatant voter suppression" on its platform, adding that while Facebook could protect and support Black users as well as call out Holocaust denial as hate, it is "actively choosing not to do so".

Facebook closed at US$216.08 last Friday.

The campaign began on June 17 but has already been picking up steam, as some big names in all manner of businesses have signed on board, including Mountain Equipment Coop (MEC), Lululemon, Coca-Cola, Patagonia, Arc'teryx, and more. Facebook representatives have been calling advertisers.

The Seattle-based coffee giant is one of * a href="*P-8ZxSqss3gQoUQhkW3vRw" *more than 100 companies that are halting their advertising spending on Facebook, though Starbucks isn't joining the Stop Hate for Profit campaign behind the boycott, according to CNBC.

Facebook CEO Mark Zuckerberg attempted to stop the financial bleeding Friday with an announcement of new policies that will alter the nature of content about elections and voting on company platforms.

"We know we have more work to do, and we'll continue to work with civil rights groups, GARM, and other experts to develop even more tools, technology and policies to continue this fight".

"Facebook plays the long game".

Meanwhile, Reddit is cracking down on what it considers hate speech and is expected to remove forums used by President Trump's supporters and far-left liberals.

Related Articles