Facebook ad boycott campaign to go global: Organisers

Facebook ad boycott campaign to go global: Organisers

WASHINGTON (US) – Organisers of a Facebook Inc advertising boycott campaign, which has garnered support from a rapidly expanding list of major firms, are now gearing up to take the battle global. This is to put pressure on the social media company to remove hate speech.

The “Stop Hate for Profit” campaign will begin urging major companies in Europe to join the boycott, said Jim Steyer, chief executive of Common Sense Media, on Saturday. Since the campaign was launched earlier this month, more than 160 companies, including Verizon Communications and Unilever Plc, have signed on to stop buying ads on the social media platform for the month of July of July.

Free Press and Common Sense, along with US civil rights groups Color of Change and the Anti-Defamation League, came out with the campaign following the death of George Floyd, an unarmed Black man killed by Minneapolis police.

“The next frontier is global pressure,” Steyer said, adding the campaign hopes to embolden regulators in Europe to take a harder stance on Facebook. The European Commission in June announced new norms for tech companies to submit monthly reports on how they are handling coronavirus misinformation.

Annually, Facebook generates $70 billion in advertising sales and about a quarter of it comes from big firms such as Unilever with the vast majority of its revenue derived from small businesses.

But the publicity around its hate speech policies have hurt its perception and stock. On Friday, Facebook’s 8.3% decline in stock price wiped out $56 billion in market capitalisation.

(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field

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