Why the Facebook Ad Boycott Could Be Good for Pinterest
What started as a trickle has quickly turned into a flood.
Less than two weeks after a coalition of nonprofit organizations launched the #StopHateForProfit campaign, some of the world's biggest brands are pulling their advertising off of Facebook (NASDAQ:FB) -- at least for July. The moves are to protest the company's lax policies against the use of its social media platforms to spread political misinformation and calls to violence, and to support voter suppression.
The long-simmering issue has attracted fresh attention in wake of the Black Lives Matters protests sparked after George Floyd was killed, and as the 2020 presidential election has heated up. Facebook's inaction in these areas has been in notable contrast with Twitter (NYSE:TWTR), which recently began adding warning labels to posts from President Trump that contain questionable or false information, or violate its rules on such things as promoting violence. Facebook CEO Mark Zuckerberg, on the other hand, has consistently pushed back on demands that his company make similar efforts, saying he doesn't feel comfortable policing free speech.
Among those suspending their ad buys on Facebook are some of the biggest advertisers in the world, including Coca-Cola, PepsiCo, Unilever, Verizon, Diageo, and Starbucks. Some have been more direct about the boycott, while others have simply said they will pause advertising on social media generally. The boycott may offer some of these businesses cover to do something they were already considering for economic reasons with the global recession weighing on consumer demand and lowering the return on ...
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