Starbucks will still post under its Twitter and other social media handles so as to interact with consumers, but it will not buy advertising. "We will continue to discuss with media partners how they will deal with unacceptable content", the spokesperson added. In an e-mail to advertising partners, the company highlighted the software it uses to detect hate speech, which has improved over the years, and its efforts to circulate verified information around the elections with a new informational hub and a goal to register four million new voters.
The move came amid backlash from advertisers as well as its own staff over failure to regulate provocative content on platform.
"There is no place for racism in the world and there is no place for racism on social media", James Quincey, the company chairman and CEO said, reported BBC News. The liquor giant spent $94.9 million on Facebook advertising in the US alone in 2019, according to estimates by analytics platform Pathmatics. The company had spent $42.3 million on Facebook (not counting Instagram) ads in 2019 and $2.1 million each month in April and May, according to Pathmatics.
Denny's ad pause will kick in on Wednesday. The statement also listed ideas concerning accountability, decency, and support which the organisations hope Facebook will agree and implement over the next month.
A version of this story first appeared on Campaign Asia-Pacific and has beed edited to include details of Diageo, Starbucks and Levi's joining the advertiser boycott.
The drop in Facebook shares knocked $56 billion off of Facebook's market value and dropped Zuckerberg's personal net worth to $82.3 billion, according to the Bloomberg Billionaires Index, making him now only the fourth richest person in the world.
The campaigns form part of the #StopHateforProfit boycott, which has seen more than 90 advertisers pulling money from Facebook. Facebook, which already prohibits advertising that discriminates, also sharpened those policies on Friday with a clause saying no ads will be allowed if they label another demographic as risky, or if they portray immigrants, migrant groups or refugees as inferior and worthy of disgust. A post that violates Facebook's rules but is from an important political figure, such as President Trump, will get a label saying it was deemed "newsworthy" enough to remain. "In other words, people [will] think that they just want to show how virtuous they are", she explained.
The decision by Coca-Cola comes days after Facebook CEO Mark Zuckerberg announced some policy changes ahead of the 2020 elections in the United States. Similarly, there are also no exceptions for politicians.
"To clarify one point: there is no newsworthiness exemption to content that incites violence or suppresses voting".
"We know we have more work to do, and we'll continue to work with civil rights groups, Global Alliance for Responsible Media, and other experts to develop even more tools, technology and policies to continue this fight".