Facebook tries persuading companies to abandon advertising boycott


The coalition has pressed Facebook to take a harder line on hate speech, arguing that white supremacists, Holocaust deniers, violent conspiracy theorists and anti-government militias have been allowed to post, form groups and recruit members on Facebook platforms.

Zillow and Redfin are not on that list.

This according to several business analysts on the matter of whether the social media giant should be concerned about the possibility of it suffering significant damages due to an advertisement boycott over Facebook's controversial policies on hate speech.

More than 750 companies, including Coca-Cola, Hershey, and Unilever, have already temporarily paused their advertising on Facebook and its subsidiary Instagram.

Facebook CEO Mark Zuckerberg has doubled down on the company's hate speech policies. I want to be unambiguous: Facebook does not profit from hate.

Facebook spokeswoman Ruchika Budhraja said in a statement that it invests billions every year to keep users safe and works with outside experts to update its policies.

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Some analysts doubt that these moves significantly affect Facebook's revenue, thanks to the millions of small and medium-sized companies that rely on the platform for advertising, but the lobbying campaign appears to have put Facebook on the defensive. The campaign, which was triggered by Facebook's allowing content that organizers said could incite violence against protesters, represents the most substantive effort to date to sanction the social network, which commands the second-largest share of the United States digital ad market behind Google.

A spokesman added: "We take these matters very seriously and respect the feedback from our partners". "Together, we finally got Facebook's attention".

The Washington Post reported the meeting would take place Monday.

According to Market Watch, civil rights groups started the #StopHateForProfit campaign last month-it encourage major advertisers and other companies to stop their Facebook ad spending for July to protest against the company's inability to act against threats of violence, misinformation on its platform, and hate speech.

Earlier this week, Facebook announced it would include the prevalence of hate speech as a data point in its Community Standards Enforcement Report, through which the platform shares updates on its progress combating content that violates its policies. The company also agreed to a new outside audit by the Media Rating Council, the ad industry's measurement watchdog, which will evaluate Facebook's content monetization and brand-safety tools and practices.