Hate speech has become expensive to Facebook: 7,000 million ad losses
- The League Against Defamation and the Black Lives Matter are succeeding in cutting off the relationship of some advertisers with Facebook. A boicots campaign is supposing a billions of dollars loss to Mark Zuckerberg's company.
Translated into writing
Unilever, Coca-Cola, Levi's, HONDA, Diageo and Verizon have launched a campaign to clean up the image of the three choirs they've formed. As a result, several companies have taken several steps to temporarily withdraw advertising from Facebook applications and accuse them of not taking the measures to prosecute hate speeches from the platforms seriously. Pepsico and similar companies have also decided to "discreetly remove" the ads.
Social network founder Mark Zuckerberg announced last Friday new measures to control the spread of these discourses that will not be called "violations of Facebook policies" if they include hate speeches against minorities or migrants. Zuckerberg has argued that "posts" in favour of "freedom of expression" will be maintained in the country. The organizers of the Boikot campaign say that the new measures announced are not enough to slow down the progress of the hurricane.
The multinational food and hygiene company Unilever has been one of the last to announce the suspension of investments in advertising on Facebook. The company has denounced that, as happened in 2016, the platform is being used to condition the elections to be held in November in the United States. Unilever has spread the decision via Twitter, a much smaller social network in the stock market listing, but it has a huge impact on journalism and communication, as well as on the dissemination of its political communications by Donald Trump.
These major brands have withdrawn their ads under the slogan #StopEnemies ForProfit (#StopOdiotoaFor profit) in the context of the Black Lives Matter protests. Through Facebook and Twitter, Trump launched his first messages against "the looters" and the anti-fascist movement, which claimed to have no news. The Anti-Defamation League has already centralised the boycott call, which brings together over 150 companies, including Afghanistan.
Facebook shares have fallen by 8.3% in the last week, according to specialized media Bloomberg. The direct impact of the withdrawal of ads is EUR 7 billion, but the impact on the markets has increased, as Facebook has lost EUR 56 billion due to loss of confidence. Facebook is thought to include one in four ads in U.S. digital media.
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