Disney, one of Facebook’s biggest advertisers have just recently put a pause to its spending on Facebook ads, The Wall Street Journal reported.
Reports say Disney has slashed spending on Facebook and Instagram ad amid growing boycott about the social media giants content policies. In the past six months of 2020, Disney is rated as Facebook’s top U.S. advertiser.
Before Disney took this step, other large companies had already put the brakes on Facebook ads. Some of these companies include; Coca-Cola, Starbucks, Unilever, and Lego. These big companies stopping Facebook ads is a means to caution Facebook to implement a change on how hate speech and misinformation are being handled on its platform.
At the moment, Facebook is battling with ad boycott by civil rights groups. The #StopHateforProfit boycott put together by a number of civil rights organizations including; The Anti-Defamation League, the NAACP, Sleep Giants, and Color of Change, is focused on the goal. Some other companies like; Verizon, Ben & Jerry’s, Hershey, and Honda are a part of this campaign against hate for profit.
The Wall Street Journal says, Disney has paused ads for its news Disney Plus streaming service on Facebook and paused ads for its Hulu streaming service on Facebook’s Instagram platform. Disney spent about $210 million for Disney Plus ads on Facebook in the US in the first half of 2020, the WSJ reports, and spent $16 million for Hulu ads on Instagram between April 15th and June 30th.
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