Facebook has come under more scrutiny as Coca-Cola joins a growing list of major firms to pause advertising on the platform.
The Coca-Cola Company said it is pausing all digital advertising on social media platforms globally for at least 30 days starting July 1st.
This comes after a broader boycott of Facebook and Instagram organized by the Anti-Defamation League, the NAACP, and other organizations called the “Stop Hate For Profit” campaign.
“Starting on July 1, The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days,” reads a statement from Coca-Cola Company CEO James Quincey posted to the brand’s website.
“We will take this time to reassess our advertising standards and policies to determine whether revisions are needed internally, and what more we should expect of our social media partners to rid the platforms of hate, violence and inappropriate content. We will let them know we expect greater accountability, action and transparency from them.”
Unilever had earlier joined Verizon as the two largest companies participating in the boycott prior to Coca-Cola’s involvement.
Consequently, Facebook CEO Mark Zuckerberg announced a series of policy changes that appear designed to try and address many of the criticisms the company has faced of late regarding its lack of moderation of hate speech and misinformation posted on the platform.
The Verge reports that while the boycott may be creating a wave of bad press for Facebook and Instagram, it’s unlikely even major advertisers pausing ad spending for one month will have a substantial effect on Facebook’s bottom line, as a majority of the company’s ad revenue comes from direct-response ads from small and medium-sized businesses.