Disney joins other companies like Starbucks Corp, Unilever Plc, Adidas AG et al. that have pulled advertising from the tech giant.
Walt Disney has become the foremost recent company to slash its advertising spending on Facebook Inc because the social media giant faces a commercial boycott over its handling of hate speech and controversial content, the Wall Street Journal reported on Saturday, citing people at home with things .
Disney joins other companies like Starbucks Corp, Unilever Plc, Adidas AG et al. that have pulled advertising from the tech giant.
The Walt Disney Co. has hamper its advertising spending on Facebook and Instagram, media reports have said.
Some media networks have reported that, Advertisements for video streaming platform Disney Plus are paused on the platform.
Facebook has lately been vulnerable over CEO Mark Zuckerberg defending the company’s decision to not act against US President Donald Trump’s post during which he mentioned the Black Lives Matter protesters as “thugs”.
Some reports say Disney has spent almost $210 million within the 6 months of this year over advertising. Facebook reportedly makes about 98% of its $70 billion annual revenue from advertising.
It is, however, not clear the time-frame that Disney intends to stay removed from the social media platforms.
The report said, Disney has paused advertising of its streaming video service Disney plus on Facebook because the company cares about Facebook’s enforcement of its policies surrounding objectionable content. For its another streaming service called Hulu the company has paused advertisements spending on Facebook owned Instagram.
Just days before Facebook announced the damage-control measures, Unilever said it might stop advertising on Facebook, Instagram and Twitter within the US for the remainder of the year. Also, another major force within the advertising world Coca-Cola too said around the same time that it might suspend ads on social media for a minimum of 30 days.
Unilever cited for its decision, “divisiveness and hate speech during this polarized election period within the US.”
The advertising boycott of Facebook is a component of the “Stop Hate for Profit” campaign started by US civil rights groups over the death of George Floyd.
