Facebook’s boycott heightens as a striking number of top brands proclaim to stop advertising on Facebook. Unilever, in particular, has pledged to stop advertising on Facebook and Instagram for at least the rest of 2020 in the United States.
More than 100 companies have joined the stop hate for profit movement.
The list includes Microsoft, Target, Ford, Adidas, Coca-Cola, Unilever, Verizon, Starbucks, and other big brands.
The campaign is against Facebook overlooking hate speech and misinformation, and failing to handle the recent incendiary posts by US President Donald Trump on its platform.
The stop hate for profit’s website urges marketers to stop advertising on Facebook in the month of July. This is what’s stated on the website-
The movement demands Mark Zuckerberg to address Facebook’s impact on the society and its policies on hate speech. Zuckerberg mentioned in a statement last month that Facebook would review the policies but failed to act on it.
Following the boycott, he announced a few measures that could do a little to stop marketers from joining the stop hate for profit movement.
As per The Guardian, Facebook makes about 98% of its $70bn in annual revenue from advertising, and Unilever’s announcement sent Facebook stocks tumbling 7%.
Much to Facebook’s chagrin, the campaign has already gone global.