[CNBC Television] More companies join ad spending boycott against Facebook to protest hate speech and racism
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Nima Gardideh, co-Founder and president Pearmill, and Dave Morgan, SimulMedia CEO, join “Closing Bell“ to talk about Facebook’s boycott ad spread.
Advertisers continued to join the “StopHateforProfit” campaign this week by vowing to stop spending money on Facebook ads in July to pressure the company to better prevent the spread of hate speech and misinformation.
The boycott comes after a group of organizations, the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press and Common Sense, accused Facebook earlier this month of allowing “racist, violent and verifiably false content to run rampant on its platform.” The groups called on companies to pull their ad dollars from the platform for the month of July.
So far, more than 240 organizations or companies have joined the campaign, or have pulled spend on multiple social media sites including Twitter and Google-owned YouTube, even if they haven’t officially joined the boycott, according to a running list from Sleeping Giants, an ad activist spending group.
Here’s a rundown of companies that recently announced they were suspending advertising.
Coffee roaster Blue Bottle Coffee said it won’t run paid advertising on Facebook and Instagram for the month of July, calling on CEO Mark Zuckerberg to meet the campaign’s demands.
Clothing retailer Madewell said it won’t run Facebook and Instagram advertising through the month of July in support of the campaign.
Pfizer said it will be removing all of its advertising from Facebook and Instagram for the month of July. “Today, we are asking Facebook to take proactive steps to ensure their platforms are safe and trusted spaces for all,” the company said.
Software giant SAP said will not run paid advertisements on Facebook and Instagram “until the company signals a significant, action-driven commitment to combating the spread of hate speech and racism on its platforms.”
Popular shoemaker Vans, owned by VF Corporation, said it won’t spend on Facebook and Instagram ads in July. Vans said it will use the money normally allocated for those ads to support Black communities through education and empowerment programs and expand its support of racial equality and access initiatives.
Vertex Pharma, a leading drugmaker for cystic fibrosis, said it will stop running advertisements on Facebook and Instagram “to encourage Facebook, Inc. to take real action against the spread of hate and misinformation on their platforms.”
Chobani announced it would pause all paid social advertising, though it’s unclear for how long.
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