SAN FRANCISCO (AP) – Facebook and Twitter shares fell sharply on Friday after the giant company behind brands such as Ben and Jerry ice cream and Dove soap said it would stop American advertising on Facebook, Twitter and Instagram until at least the end of the year.
European consumer product maker Unilever said it had decided to protest the amount of hate speech online. Unilever said that the polarized atmosphere in the United States before the November presidential election compelled brands to act.
Facebook and Twitter shares fell about 7% after the announcement of Unilever.
The company, based in the Netherlands and Britain, joins a series of other advertisers withdrawing from online platforms. Facebook in particular has been the target of a growing movement to withhold advertising funds in order to pressure to do more to prevent the sharing of racist and violent content on its platform.
“We have decided that as of the end of the year at least, we will not run brand advertising on Facebook, Instagram and Twitter platforms in the United States,” said Unilever. “Continuing to advertise on these platforms at this time would not add value to people and society.”
Facebook did not immediately respond to a request for comment. On Thursday, Verizon joined others in the boycott of Facebook.
Sarah Personette, vice president of global customer solutions at Twitter, said the company’s mission is to serve the public conversation and to ensure that Twitter is a place where people can connect, search and receive information. authentic and credible, and speak freely and securely. . “
She added that Twitter is “respectful of our partners’ decisions and will continue to work and communicate closely with them during this time.”
Source: AP News