Over 900 advertisers have paused buying ads from Facebook at least until the end of July. While this boycott is related to Facebook’s failure at curbing hate speech, advertisers have many other grievances with the platform.
Digiday wrote that;
“Funding hate speech is on a list of bugbears advertisers have with Facebook, which also includes their inability to properly validate campaign data as well as concerns over the efficacy of video ads in its news feed.”
For advertisers banding together to make Facebook accountable would have been illegal, but #StopHateForProfit gave them the platform they needed to poke Facebook.
Perhaps it’s the pressure from the boycott but Facebook committed to a brand safety audit last week.
In a separate article Digiday reported that the purpose of this audit is to;
“assess its ability to apply brand safety controls within other partner publishers’ content that includes advertising slots and appears in-stream, in Instant Articles or on the Facebook Audience Network. Facebook said it also expects the audit to cover its partner monetization policies and content monetization policies — the rules publishers and creators must abide if they want to make money from their Facebook content through ad revenue — and how it enforces them.”
This isn’t the only MRC audit facebook is committed to and as WSJ reported they’ve been running into trouble with how the measure video ad metrics.
What do consumers think of this boycott? An impromptu survey from MarTech discovered that the majority of consumers in the US were either unaware or undecided. The highest awareness and approval was among Gen Z.