The top companies involved spent more than US$548 million on Facebook advertising in the USA past year, according to a boycott list maintained by the activist group Sleeping Giants and data from ad analytics company Pathmatics.
In a declaration to GamesIndustry.biz, PlayStation stated "In support of the #StopHateForProfit campaign, we have globally suspended our Facebook and Instagram activity, including advertising and non-paid content, until the end of July". A Facebook executive also published a blog post on Wednesday saying the company does not benefit from hate on the platform.
"We're gonna do what we think are the right things that we think are gonna serve the community best over time".
Washington Redskins to undergo thorough review of team's name
The NFL is "supportive of this important step", said Roger Goodell, the league's commissioner, in a separate statement. Washington mayor Muriel Bowser said recently the name was an "obstacle" to the team building a stadium in the District.
"Given Facebook's colossal scandals and rare repercussions to revenue, the advertisers' boycott is a body blow that will decimate Facebook's top line". Facebook has responded with some changes but will it be enough?
The group is one of several that have organized the "Stop Hate for Profit" boycott.
Facebook CEO Mark Zuckerberg reportedly has told employees not to worry, assuring them that advertisers that have boycotted the social media giant will return "soon enough".
Anthony Davis says Lakers' chances of National Basketball Association title run higher after break
Although they were fresh off a loss to the Brooklyn Nets, the Lakers had just defeated the Milwaukee Bucks and L.A. Superstar Anthony Davis broke down how newcomers Markieff Morris , Dion Waiters and J.R.
Facebook CEO Mark Zuckerberg has doubled down on the company's hate speech policies.
Even Facebook's top 100 advertisers together only accounted for around 6 per cent of its annual revenue past year, according to Pathmatics. The outrage, that started with Trump's comments about the lootings in the country, has only escalated since. (Facebook refrained from taking action on political leaders' posts due to its journalistic notoriety.) The steps Facebook has taken so far are "insufficient", according to the campaign, noting that Facebook will not remove tagged posts. The company also said it will begin adding warning labels to user posts that are "newsworthy" but violate the platform's policies. It also responded to the illegal things happening regarding the USA elections by removing comments which could suppress and demotivate voters.
Facebook had already indicated earlier this week it would submit to an audit of its hate speech controls.
U.S. reports more than 55,000 Covid-19 cases in single day
Globally there have been 10.7 million confirmed cases and more than 516,000 dead, according to Johns Hopkins' count. Fauci warned that if the United States does not take control of the situation it risks "an even greater outbreak".
The computer maker said it was stopping US advertising on Facebook until the platform puts more robust safeguards in place against objectionable content. Losing business from more than 500 advertisers would cost Facebook almost dollar 1 billion loss per month, Morgan Stanley analyst estimates. And with big names like Coca-Cola, Mozilla, and Target joining in, the campaign is bound to go strongly.