The Facebook boycott attracted the support of a number of its top advertisers, including Unilever, Starbucks, Verizon, Pfizer and The Hershey Co. Civil rights organizations formed a movement called Stop Hate for Profit after criticizing Facebook over its handling of hate speech and disinformation in the wake of racial justice protests that swept the globe in May and June.
Even on Twitter, which has not been the target of the boycott, some brands have been unusually quiet. In July 2019, the top 1,000 advertisers spent an average $2.34 million daily on Twitter, according to Pathmatics. This year, the top 1,000 advertisers spent an average $2.13 million daily, according to Pathmatics.
In 2019, Twitter generated $3.5 billion in revenue, most of it from advertising.
“Brands are trying to lock down and stay away from the content virus that they can pick up by putting ads into environments right now that are full of maybe negative commentary and expressions,” says Donovan Neale-May, executive director of the CMO Council.
Geico, Hulu, Samsung, Pfizer, Hershey, McDonald’s, Starbucks, Kraft Heinz, Molson Coors and LinkedIn were 10 of the highest-spending brands on Facebook during the first half of 2020, accounting for $776,000 in combined average daily spending, according to Pathmatics. In the first 10 days of July, their combined spending was down to $14,200, said Pathmatics, describing them as the top-spending brands whose Facebook ad spend appeared to decline the most in July.
The 10 brands combined spent an average of $2 million a day on YouTube, Amazon and Twitter, an increase of 125 percent from their typical spending during the first half of the year, according to Pathmatics.
McDonald’s, Kraft, LinkedIn, Geico and Hulu, which did not publicly join the Facebook protest movement, declined to comment for this story.
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July 20, 2020 at 04:00PM
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Even brands not in the Facebook boycott have shifted social ad spend - AdAge.com
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