WHAT’S BEING CLAIMED:
- Pepsi is one of the latest companies that is said to pull out its advertisement on Facebook, Fox Business reports.
- While Pepsi has yet to make an official announcement, sources also told the outlet that the beverage company would join other corporations that would boycott Facebook.
- The response is to protest the social network’s laxity in not censuring hate speech, racism, and voter misinformation.
Sources who are part of Pepsi’s inner circle reportedly told Fox Business on Sunday that the company will join the calls for advertising boycott against Facebook, a move that was earlier imposed by other large firms.
Pepsi, considered as the second-largest food and beverage corporation in the world, is said to be halting its ads from Facebook from July until August. The response is part of a worldwide effort against Facebook, according to Fox Business’.
The cola producer, though, is yet to make an official statement about the recent issue.
Fox News added that Pepsi’s boycott would affect Facebook on a large scale as the company has around $2.6 billion yearly spendings at the social network on promotion, marketing, and advertising.
Like most businesses nowadays, Pepsi has diverted a significant portion of its advertising budget on social media platforms.
Facebook has been repeatedly called out for refusing to take appropriate action in pulling out or dealing with hate speech or remarks that are said to be inappropriate.
By Sunday, over 150 corporations, including Patagonia, and Ben and Jerry’s have outspokenly stated their concerns over the social media site and swore to remove their ads from Facebook.
Ad firm Goodby Silverstein confirmed last week that it would participate in the boycott against Facebook and calling out clients, including HP, Adobe, BMW, and PayPal, to join the effort.
Fox Business also confirmed that Pepsi is one of the firm’s clients.
Goodby Silverstein posted on Twitter, saying that they will join the boycott using the #StopHate4Profit and suspend posting ads on Facebook during July. They added that the move the agency’s way of protesting the platform’s negligence in circulating hate speech, discrimination, and misleading voter info.
The latest objection against Facebook followed President Donald Trump’s statement over social media as rallies surged after the killing of George Floyd while under arrest with Minneapolis police officers.
Trump reportedly commented that the firing would start when the looting begins.
Twitter moved to tag the president’s tweet with “glorifying violence” warning moments after it was published.
Facebook reportedly generates around $1 billion every quarter with advertising. The social media giant’s stock plunged over 8 percent on Friday as more corporations participate in the boycott, Fox Business reports.
Source: The Hill