Sony PlayStation joins hundreds of companies in Facebook advertising boycott until end of July
Sony PlayStation joins Facebook ad boycott over hate speech, misinformation. Sony Playstation has joined over 400 advertisers who have decided to pull out ads from Facebook and Instagram over its failure to curb hate speech and misinformation.In a statement to GamesIndustry.biz, PlayStation said “In support of the #StopHateForProfit campaign, we have globally suspended our Facebook and Instagram activity, including advertising and non-paid content, until the end of July. We stand for working (and playing) together for good.
The #StopHateForProfit boycott now has more than 400+ participants, and its organizers are calling for an international expansion as well.At this point, Facebook has had very little response to the boycott, with a VP reportedly telling advertisers that the company doesn’t make policy changes due to revenue pressure.Surprisingly enough, even hundreds of big-name brands pulling their ads for July might not even make much of a hit to Facebook’s bottom line — according to CNN, only a few of the top 25 spenders on Facebook have pulled their campaigns.
The social networking giant said it was getting better at removing harmful content and that the platform does not in any way profit from hate speech.
American food company Chobani, drug maker Pfizer and software major SAP were among the latest brands pulling who joined Coca Cola, adidas, cleaning supply firm Clorox, Conagra (the maker of Slim Jim, Duncan Hines and Pam), fast food chain Denny’s, Ford and Starbucks to pull their ads from the platform.
Facebook’s digital advertising accounted for over 98 per cent of the company’s nearly $70 billion in revenue last year.
Mark Zuckerberg became $7.2 BILLION (with a “B”) poorer last week, after a slew of companies pulled their ads from Facebook…
Shares of the social media company fell 8.3% on Friday, the most in 3 months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with Facebook’s digital properties this year…
The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index.
Coca-Cola Co. said it would pause all paid advertising on all social media platforms for at least 30 days…