AND Facebook, Twitter, Snapchat, TikTok and company begin to worry about the decision just made by one of the largest advertisers worldwide: The Coca-Cola Company.
On Friday the Atlanta-based giant announced that you are pausing all digital advertising on social media platforms globally, for at least 30 days, a decision that will begin to take effect from July 1.
Brands take a stand
« There is no place for racism in the world, and there is no place for racism on social media, » said the The Coca-Cola Company CEO and President James Quincey in a statement quoted by various US media.
Although the refreshing firm clarified that it is not joining the boycott called against Facebook, it did emphasize that its decision in correspondence with what they consider, a revaluation of its advertising looking for greater responsibility and transparency from « social media partners ».
“The Coca-Cola Company will stop paid advertising on all social media platforms worldwide for at least 30 days. We will take this time to reevaluate our advertising policies to determine if revisions are needed. We also expect greater accountability and transparency from our social media partners, ”adds the message.
The announcement of the beverage industry giant closes a week in which it has grown significantly the list of brands that announce that they will withdraw their advertising for at least one month from Facebook in response to what they consider a policy that is permissive with hateful content, but also « is accommodating in the dissemination of information. »
The weight of brands on social networks
Although Coca-Cola said it does not join the boycott, it is in line with the call made by the National Association for the Advancement of Colored People (NAACP)as well as other organizations like the Anti-Defamation League asking advertisers not to invest in the social network, and as a result of this movieminot the campaign emerged « Stop Hate for Profit ”.
The initiative found in The North Face As the first brand to answer the call, noting that it would stop all paid activity and ads until there are « stricter policies » that provide more assurance that something is done against the spread of hateful, misleading, and violent material on both Facebook as in all its platforms.
Although, initially, the response was slow, throughout this week the list of firms that will withdraw their advertising on Facebook has grown; Verizon, Magnolia Pictures, REI, Patagonia, Eddie Bauer, and Ben & Jerry’s, and most recently Unilever, Honda, and, recently, also reported to be The Hershey Company.
Furthermore, Procter & Gamble, another major Facebook advertiser, said earlier this week that it is reviewing all the media channels, networks, platforms and programs it advertises in « to ensure that content and comments are accurate and respectful. for all people, and that we are not advertising or close content that we determine to be hateful, discriminatory, demeaning or derogatory, ”as they recall from CNBC.
This has a cost
The problem will worsen for the Menlo Park firm if one of the top 10 advertisers joins this boycott: Disney ($ 210 million), P&G ($ 77 million), U.S. Bereau ($ 51 million), Donald Trump’s presidential re-election campaign ($ 40 million), Home Depot ($ 38 million), CBS ($ 32 million), Wix.com, Inc. ($ 32 million), Purple Innovation, LLC ($ 31 million) ), Domino’s Pizza ($ 30 million), Sprint ($ 29 million).
In fact, this is already suffering and not only on Facebook, but also on other social networks. On Friday, the shares of the Menlo Park firm fell more than 8.3 percent in operations after closing, while those of Twitter and Snap Inc. they did 7.4 and 5.8 percent, respectively.
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