Facebook’s advertiser boycott has turned into a global digital activist campaign aimed at curbing the hateful and toxic content of social media giants. But its impact remains unknown.
The unprecedented move has added major brands such as Unilever, Starbucks, Levi’s and Coca-Cola, with nearly 200 companies pausing ads on the world’s leading social networks, driving billions of Facebook’s market value. I wiped it out.
Some companies have signed on to the #StopHateForProfit campaign organized by social justice activists, while others have acted on their own to avoid the toxic atmosphere of Facebook.
Ford, for example, said it will suspend all social media advertising to “re-evaluate its presence on these platforms,” while eradicating content that includes discriminatory remarks, violence, and racial fraud on social platforms. It is necessary.”
Boycott has gained momentum in recent public unrest as activists demanded Facebook be more active in curbing racism and incendiary content, including President Donald Trump.
“We have entered a whole new era of digital activism,” said Search Engine Land Digital Marketing Analyst and Contributing Editor Greg Sterling.
“Non-profits are urging advertisers to be vigilant for social media, because companies are reluctant or refusing to do so on their own. In fact, all social media We have to re-examine the policy and adjust or adopt it, allowing the spread of hatred and racism.”
Michel Amagine, a professor of communications at Boston University, said the latest action is “suggesting that social media needs to take this issue seriously, or that it will impact their interests.” It was
Amagine added that the movement “emphasizes that long-awaited pressures have finally risen to social media platforms as responsible gatekeepers and stop promoting hatred and violence for profit.” It was.
Facebook’s stock price fell in the wake of last week’s announcement, and a partial rebound on Monday led to a loss of about $50 billion in market value.
Facebook appeared to respond by announcing on Friday that it would ban the “broader category of hateful content”.
Mark Zuckerberg, CEO, said Facebook will also add tags to posts that are “news worth” but violate platform rules.
Facebook said it had invested heavily in efforts to stop racism as a result of the civil war caused by the May 25 killing of African-American George Floyd in the hands of Minneapolis police.
Despite the boycott, Facebook’s network has about 7 million advertisers and the majority of small businesses.
Larry Chiagouris, a marketing professor at Pace University, said most of the brand boycotts of recent years have disappeared as their initial enthusiasm diminished.
Facebook around the world is likely to remain attractive to advertisers, with no indication of a significant drop in viewership, according to Chiagoris.
“It could soften Facebook’s revenue somewhat, but it will recover,” said Boycott.
“Right or wrong, people are still in love with their Facebook account.”
Morningstar equity analyst Ali Mogarabi sees Facebook’s financial impact as negligible.
“With over 2.6 billion users, most advertisers expect to return to Facebook. In the meantime, Facebook could take steps to demonstrate further reduction of hate speech on the platform. You can. The front line.”
Boycott campaigns, including NAACP, Color of Change, and Smudge Prevention League, say they want to keep pressure on Facebook despite the changes announced last week
“Each of these early stages will make a huge dip in the persistent hatred and racism that is so common on the largest social media platforms on the planet,” the coalition said in a statement.
The group seeks top-level executives with “deep civil rights expertise” to monitor Facebook’s policy on discrimination and prejudice, as well as independent audits of “hate and false alarms.”
© 2020 AFP