Disney, Facebook ad spenders has reduced their spending on Facebook and Instagram against the spread of hateful content on the platforms. Disney has also reduced and stopped its news Disney Plus streaming service on Facebook and its streaming services on Instagram.
Earlier this year Disney has already spent $210 million for Disney Plus ads on Facebook. It also had spent nearly $16 million for Hulu ads on Instagram in the months between April and June.
Reacting to this in a statement Facebook has said the company more work to do on reducing the talk against hate speech. If Disney’s decision is regarding campaign #StopHateforProfit, then Facebook will face a huge loss.
Not only Disney, big market players like Coco-Cola, Unilever, Adidas, Starbucks, Walgreens, and Honda has stopped giving their ads to Facebook from last week of June 2020 for at least a month. This action led to a loss of $7 billion for Mark Zuckerberg. The companies took this decision against the spread of hateful content in its platform.
We all know Facebook as a social media platform, but according to the HBO, it is been classified as an advertising company, because the billions of revenue attained by Facebook is 99% through advertisements.
Facebook shows advertisements to the point to its users. With all the data provided by users, such as name, education, location details, photos, likes, dislike, etc, help facebook to understand its users well. It’s been said that Facebook has an algorithm that could predict the user’s height. With all this data an advertising company could target its customers very easily.
Recently facebook happens to advertise an advertisement for Jew-haters. When this content came public, Facebook apologized for the spread of hateful content. The allegation is, along with such hateful content some advertisements also been shown. This has created a bad impression among companies and caused them to stop giving advertisements to Facebook.
The COO of Facebook Sheryl Sandberg has said that the company will pull out all hateful content and the company stands against it. She also added that Facebook is a place where everyone can make their voice, but it’s not a place to spread hate.
(This article was originally published in Passionate in Marketing.)