A boycott aimed at Facebook’s misinformation and hate speech moderation policies – particularly its permissive approach to posts from President Trump aimed at Black Lives Matter Protests – is gaining momentum.
As of this morning, more than 100 marketers have announced their intention to pause advertising on Facebook.
It’s a big deal. But the majority of the company’s $17 billion in annual ad sales come from millions of smaller businesses that rely heavily on the platform – even more so now that COVID-19 has moved the retail experience almost entirely online.
Many of those businesses won’t have the luxury of participating in the boycott, even if they believe in the principles behind it.
But major brands are taking action:
- Coca Cola announced on Friday it will pause advertising on all social media platforms for at least 30 days.
- Starbucks, who spent $95 million on Facebook ads last year, announced it will pause advertising across all social media platforms.
- Unilever, which has spent more than $11.8 million in the U.S. this year on Facebook, is halting advertising through Dec. 31.
The #StopHateforProfit boycott has been mentioned nearly 200,000 times on Twitter since June 18. National news outlets have driven significant online conversation along with public figures including Hillary Clinton, actor Sacha Baron Cohen, Heidi Krassenstein and others. But members of Congress have yet to weigh in.