US Telecomm Giant Verizon Pulls its Ads from Facebook
Just yesterday, the American telecom company Verizon said that its finally pulling back its advertisements from Facebook. Consumers were surprised by the move as it’s the biggest brand that joined the #StopHateForProfit boycott in the United States.
The technology company’s chief media officer, John Nitti, has stated that they are temporarily pulling its ads from the social media platform. This is until Facebook comes up with an “acceptable” solution to the problem.
According to Nitti, the company should feel comfortable first and should see consistency in the solution. Adding that the move against Facebook is the same as with the company’s other partners, such as YouTube.
Verizon’s move made it in the headlines of every technology news site, as it marks the first telecom company to join the boycott.
When asked for a comment, other US telecommunications did not respond to any media reporters.
A spokesperson from the New York-based company said that its commitment spans from Facebook to even Instagram. But when asked about whether the company would pull out its unpaid content, the spokesperson declined to give any details.
Reports say that Verizon’s move came after the Anti-Defamation League sent an open letter to advertisers. In the letter, the telecom company’s ad was an example, saying it appeared alongside a conspiracy-mongering post on the platform.
The letter said the company’s ad was next to a video from QAnon, a conspiracy group that posts antisemitic and hateful rhetoric.
In its official statement, the company said that it does not tolerate such hateful content, especially when policies are breached.
As for Facebook, the company has not yet addressed the move from the telecom giant. But in the past, Facebook’s Global Business Group VP, Carolyn Everson, said that the company respects any brands’ decision.
Growing Hate on Social Media
The political turmoil on social media platforms is escalating really fast. Modern technology paved the way for interactive and fast communication, but it also gave an opportunity to spread hate.
And this is not the first time that Verizon participated in an advertising boycott against a social media platform.
Way back in 2017, the company pulled out its advertisements from YouTube because of how the company handled hate speech.
In its latest move, the company said that the boycott could last a bit longer than before and compared it to other participating brands.
The boycott campaign is led by several advocacy groups, including Color of Change, ADL, and NAACP. Some organizers and advocates have already applauded the telecom company’s move to stand with them.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!