World Federation of Advertisers (WFA) polled 76 brands about their position on advertising spend.
With social media brands failing to regulate hate speeches on their platforms, 41% of major brands are uncertain about withholding spending on advertising on these platforms. Only 5% of brands have decided to withhold ad spend.
However, 26% of the brands have indicated that they are likely to stop ad spending soon. Of those polled, 17% were unlikely to withhold ad spends and, 12% said they weren’t cutting back.
One survey participant says, “We want to have a longer-term plan, non-reactive [toward] a sustainable and transparent media supply chain.” Stephen Loerke of WFA notes that the number of brands that are reviewing longer-term media reallocation strategies is surprising.
[2 minute read]