Big Brands Drop Ads From Facebook To Demand The Platform To Join Fight Against Hate Speech
Update June 29, 2020: The boycott on Facebook ads is growing faster than ever and reaching a global level. The growing demand for Facebook to target and handle hate speech and extremism on its platform has led to a far-reaching boycott of ads on the social media site.
The boycott of Facebook ads is going global.
Since the boycott was announced earlier this month, 160 companies have joined the #StopHateforProfit boycott targeting Facebook. Two major companies, Coca-Cola and Starbucks, say they are not part of the boycott. However, the two companies have announced that they will be pausing all ads on social media platforms for the month of July.
Starbucks is not officially part of the #StopHateforProfit movement but the decision is being praised by advocates.
The boycott is having a very real impact on Facebook’s business. Facebook stock lost more than $60 billion in value as more and more businesses cut advertising ties with the social media platform. The 9 percent drop in Facebook’s market prices prompted Facebook executives to begin tweaking some policies to go after hate speech.
Original: Facebook is in trouble as several major brands pull their ads from the social media platform. The coordinated move from the brands was in response to Facebook’s intentional inaction in curbing hate speech on the platform.
Facebook is facing financial troubles as major brands pull ads over the platform’s stance on hate speech.
The NAACP teamed up with other organizations to create the Stop Hate for Profit campaign. The campaign is aimed at Facebook and is calling on brands to separate from the social media platform for at least one month, July. The point of the campaign is to call out Facebook for their willingness to profit off of organizations that disseminate and amplify white nationalist rhetoric. Some of the rhetoric has been racist, anti-Semitic, xenophobic, and violent in nature.
“For five years, Color Of Change has called on Facebook to do the right thing and make their platform safer for the millions of Black people that use it,” reads a statement on the Color Of Change website. “From the monetization of hate speech to discrimination in their algorithms to the proliferation of voter suppression to the silencing of Black voices, Facebook has refused to take responsibility for hate, bias, and discrimination growing on their platforms.”
Brands are responding and pulling their ads from Facebook.
Recently, Verizon and Unilever joined the growing list of businesses pulling ads to stand up to Facebook’s monetization of hate speech. People have been demanding that Facebook do something to control the hate speech that has incited violence in recent years. Yet, Mark Zuckerberg, the creator of Facebook, refuses to curb the violent speech on the platform.
The Anti-Defamation League laid out the reasons they are calling for the boycott.
The ADL is calling on brands to drop Facebook ads to combat what is considered as a long history of amplifying hate speech. According to the league, the social media platform routinely recommends extremist pages to users, created a loophole to allow for climate change deniers to push anti-science conspriacy theories further, and, in one example, Facebook refused to take down Holocaust denial content.
The social media platform has long been criticized for allowing misinformation to manipulate elections around the world.
Cambridge Analytica is one of the most famous cases of this happening. In the Netflix documentary “The Great Hack,” dives deep into how the firm was able to use Facebook to spread intentional misinformation to sway elections around the world. People who worked for the tech firm testified that they were able to use Facebook to target individuals who could be swayed with false information to illicit a vote for their client. It happened in several countries, including the U.S. in the 2016 elections and the U.K. during the Brexit vote.
Facebook has so far decided to remain defiant in the face of calls to do better.
According to The Wall Street Journal, Facebook is not going to be changing their policies. Instead, the company is going to keep pushing forward with its current strategy of monetizing and helping to spread the extremist and dangerous rhetoric.
According to The Wall Street Journal, Carolyn Everson, the vice president of Global Business Group at Facebook, said, “We do not make policy changes tied to revenue pressure.” She continued: “We set our policies based on principles rather than business interests.”