Many companies and corporations place their advertising on social media. Facebook boss Mark Zuckerberg reacts for his platform.
More than 100 companies are currently boycotting Facebook and are not advertising on the site because they believe that the social network is doing too little to prevent hatred and misinformation on its platform. Under the hashtag #StopHateForProfit, many well-known – and above all financially strong – companies and groups have come together to put Facebook under pressure. Facebook boss Mark Zuckerberg (36) reacted on Friday and announced measures in a detailed post.
How did the boycott come about?
Comparatively smaller companies such as the outdoor clothing manufacturers Patagonia and North Face followed the call for an advertising boycott by the organization "Anti-Defamation League" before large companies followed on Friday, including Unilever, Verizon and Coca-Cola. Unilever explained the move in several posts, for example on Instagram: "Brands have an obligation to help build a trustworthy and secure digital ecosystem. That is why our brands will stop advertising on Facebook, Instagram and Twitter in the USA."
The boycott had an immediate impact, with the value of Facebook shares dropping over eight percent on Friday. It is hardly surprising that Zuckerberg, whose platform Facebook owes more than 95% of its earnings to advertising, had to react. He announced that racist, misogyne and homophobic content would be banned in the future. In addition, similar to Twitter's approach, content should be marked that remains on the page because of its news content, such as politician speeches that are inflammatory content.
Further criticism of Zuckerberg
It remains to be seen to what extent the changes will satisfy companies and activists. For some, Facebook's steps don't go far enough, for example Rashad Robinson from the organization "Colors Of Change", which is part of the protest. In one Interview with CNN he described Zuckerberg's approach as "lip service" and "missed opportunity" and criticized that the measures did not go far enough.