Nearly all of Facebook’s $70 billion revenue is from advertising.
Unilever, which has Dove and Ben & Jerry’s as some brands under it, has decided to suspend advertising on Facebook, Twitter, and Instagram in the US for 2020 to support the #StopHateforProfit campaign. Twitter and Facebook recorded stock drops of around 8% on Friday following Unilever’s decision.
The #StopHateforProfit campaign backed by Anti-Defamation League, Colour for Change, Common Sense, and the NAACP is compelling advertisers to “not advertise on Facebook’s services in July.” Unilever’s decision follows the increased scrutiny around Section 230, which provides immunity to social media platforms for the content they carry.
Many advertisers are feeling pressured to pull ads from social media platforms, as consumers hold them accountable. Unilever said, “Brands have a duty to help build a trusted and safe digital ecosystem”.
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