Here’s the revenue hit Facebook will take as Diageo and Starbucks join the list of companies pulling ads from platform

Facebook shares fell in premarket trading on Monday, after Diageo and Starbucks became the latest companies to halt advertising on social-media platforms over ineffective policing of hate speech.

On Sunday, coffee giant Starbucks SBUX, -3.08% said it was “pausing” advertisements on all social-media platforms, and would “continue discussions internally, with our media partners and with civil-rights organizations in the effort to stop the spread of hate speech.” On Friday, Unilever UN, -0.58% ULVR, -2.19% said it would halt U.S. advertising on Facebook and Twitter through year-end. Its Ben & Jerry’s ice-cream unit had previously announced a Facebook ad pullout.

The boycotts stem from a #StopHateforProfits campaign announced by a coalition of civil-rights and other groups, including the Anti-Defamation League and the National Association for the Advancement of Colored People, which has asked Facebook advertisers to show that they won’t support companies that prioritize profits over safety.

Political leaders should be held to a higher standard of conduct not lower.

Facebook is trash

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Starbucks pulling ads from Facebook and other social-media platformsStarbucks announced Sunday in an online statement that it is "pausing" advertisements on all social-media platforms, two days after consumer-products conglomerate Unilever said it was halting U.S. advertising on Facebook and Twitter through year-end over ineffective policing of hate speech, leading to a sharp Friday selloff in both stocks. The coffee giant said it would "continue discussions internally, with our media partners and with civil-rights organizations in the effort to stop the spread of hate speech." Verizon Communications Inc. and ice-cream company Ben & Jerry's, itself a unit of Unilever, had previously pulled advertising from Facebook. Coca-Cola Co. joined the Facebook ad boycott Friday. Facebook late Friday reversed course and said it would now hide or block content considered hateful or endangering voting, removing a prior exception for politicians. Starbucks sucks anyway
Source: MarketWatch - 🏆 3. / 97 Read more »