The Coca-Cola Company will put a pause to running paid ads across all social media platforms due to an industry-wide movement by brands to reconsider where they spend their ad money.
“Starting on July 1, The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days,” mentions 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” he further added.
Facebook is facing this boycott as advertisers are unhappy with its management of misinformation and hate speech, including its laissez-faire behavior toward recent posts from the US President Donald Trump. Most of the participants are small firms, which make up Facebook’s 8 million advertisers. Nevertheless recently, several large organizations that spend millions of dollars every year on the platform have also changed their ad spend policies.
Unilever took it a step further mentioning that they would pause advertising on Facebook and Twitter for the rest of this year.