Advertisements for more than 400 brands including Coca-Cola and Starbucks are due to vanish from Facebook on Wednesday, after the failure of last-ditch talks to stop a boycott over hate speech on the site.
U.S. civil rights groups have enlisted the multinationals to help pressure the social media giant into taking concrete steps to block hate speech in the wake of the death of George Floyd and amid a national reckoning over racism.
Facebook executives including Carolyn Everson, vice president of global business solutions, and Neil Potts, public policy director, held at least two meetings with advertisers on Tuesday, the eve of the planned one-month boycott, three sources who participated in the calls told Reuters.
But the executives offered no new details on how they would tackle hate speech, the sources said. Instead, they pointed back to recent press releases, frustrating advertisers on the calls who believe those plans do not go far enough.
"It's simply not moving," said one executive at a major ad agency of the conversations.
Facebook Chief Executive Mark Zuckerberg has agreed to meet with the organizers of the boycott, a spokeswoman said late Tuesday.
U.S. civil rights groups including the Anti-Defamation League, NAACP and Color of Change started the "Stop Hate for Profit" campaign after the death of Floyd, a Black man who died under the knee of a white police officer last month.
The groups outlined 10 demands for Facebook including allowing people who experience severe harassment to speak with a Facebook employee and giving refunds to brands whose ads show up next to offensive content that is later removed.
Facebook said earlier this week it would submit to an audit of its hate speech controls, adding to plans to label newsworthy content that would otherwise violate its policies, following similar practices at other social media platforms such as Twitter Inc.
One digital ad agency representative who participated in a call on Tuesday said Facebook executives referred repeatedly to the audit, without offering additional concessions.
Facebook executives have reached out to chief executives, board members and chief marketing officers of major advertisers to talk them out of the boycott, two people briefed on the discussions told Reuters. All the sources requested anonymity because they were not authorized to speak on the record.
ADVERTISING TEST
The boycott will be a test for advertisers on how to reach billions of consumers without relying on the largest social media platform in the world, an executive at a major ad agency said.
Companies that run ads in order to promote their brand image rather than to make direct sales are less beholden to Facebook. Many of these, including the multinational advertisers who have joined up with the boycott, will begin to plot how they can achieve the same goals without Facebook, the executive said.
For Facebook, the boycott is unlikely to have a big financial impact. The top 100 brands on Facebook in 2019 likely brought in only 6% of Facebook's total $70 billion in annual revenue, according to a Morningstar research note citing Pathmatics data, which measures most types of advertising on the platform. Facebook said last year its top 100 advertisers accountED for less than 20% of total ad revenue.
News of the boycott wiped away $56 billion from Facebook's market capitalization after an 8% drop in its stock on Friday. But shares recovered 3% on Tuesday and are actually trading 8% higher year to date.
ZUCKERBERG PRESENCE
Facebook Chief Operating Officer Sheryl Sandberg last week asked to meet with the campaign organizers along with Chief Product Officer Chris Cox, Zuckerberg's long-time friend, who returned to Facebook this month after resigning over the company's direction last year.
The civil rights groups insisted Zuckerberg also be at the table, with Anti-Defamation League Chief Executive Jonathan Greenblatt noting that as CEO, chairman and the company's largest shareholder, "he is the ultimate authority."
The Facebook spokeswoman said late Tuesday that the company had confirmed that Zuckerberg would join the proposed meeting.
"We're waiting to hear back and look forward to the opportunity to continue the dialogue,” she said.
Reuters
Wed Jul 01 2020
Attendees walk past a Facebook logo during Facebook Inc's F8 developers conference in San Jose, California, U.S., April 30, 2019 - REUTERS/Stephen Lam
Piala Asia B-23: Vietnam intai peluang benam Malaysia, layak ke suku akhir
Vietnam mencari peluang untuk memastikan slot ke suku akhir Piala Asia B23 apabila berdepan Malaysia malam ini.
AWANI Pagi: Berita tumpuan & menarik di astroawani.com [20 April 2024]
AWANI Pagi bersama Geegee Ahmad & Azib Zikry membincangkan keperluan pengenalan Skim Kemalangan Bukan Bencana Kerja (SKBBK) di mana Presiden Kongres Kesatuan Sekerja Malaysia (MTUC), Mohd Effendy Abdul Ghani akan menekankan bahawa langkah proaktif itu adalah untuk melindungi hak-hak pekerja khususnya apabila melibatkan kemalangan jalan raya di luar waktu bekerja.
Lelaki bertindak bakar diri di luar mahkamah New York
Max Azzarello yang berasal dari St. Augustine, Florida, dilaporkan telah diselamatkan dan berada dalam keadaan kritikal.
[TERKINI] Ketua Polis Negara paling lama meninggal dunia
Bekas Ketua Polis Negara, Tun Mohamed Hanif Omar, meninggal dunia pada usia 85 tahun di kediamannya di Shah Alam pada 2.15 pagi Sabtu.
Pasangan suami isteri tidak sangka dua kali tolak tawaran, masih ada rezeki tunai haji tahun ini
Selepas surat tawaran berada di dalam tangan, dia dan isteri giat membuat persiapan demi memastikan mereka memperoleh haji yang mabrur.
Lelaki bertindak bakar diri di luar Mahkamah New York
Seorang lelaki bertindak membakar dirinya di luar mahkamah New York di mana perbicaraan bagi kes bekas presiden Amerika syarikat Donald Trump sedang berjalan
Perlu isyhtihar jika bawa lebih S$20,000
: Semua pengembara yang memasuki atau meninggalkan Singapura membawa mata wang fizikal dan instrumen boleh niaga (CBNI) dengan nilai lebih 20 Ribu Dolar Singapura atau bersamaan dalam mata wang asing.
Pengisytiharan CBNI ini supaya membantu usaha Singapura membanteras aktiviti jenayah seperti pengubahan wang haram dan Keperluan sedemikian adalah kebiasaan di banyak negara.
Pengisytiharan CBNI ini supaya membantu usaha Singapura membanteras aktiviti jenayah seperti pengubahan wang haram dan Keperluan sedemikian adalah kebiasaan di banyak negara.
G7 tekad, untuk redakan perang di Asia Barat, Ukraine-Rusia
Isu peperangan di Ukraine dan Asia Barat mendominasi mesyuarat Menteri Luar Kumpulan G7,terdiri daripada Amerika Syarikat, Itali, Kanada, Perancis, Jerman, Jepun dan Britain.
Sidang kemuncak menteri luar itu berakhir sejurus selepas serangan Israel ke atas Iran dikatakan sebagai tindakan balas terhadap serangan dron dan peluru berpandu Iran baru-baru ini ke atas Israel.
Sidang kemuncak menteri luar itu berakhir sejurus selepas serangan Israel ke atas Iran dikatakan sebagai tindakan balas terhadap serangan dron dan peluru berpandu Iran baru-baru ini ke atas Israel.
Lari fokus, abai kesihatan antara masalah utama jemaah
Beberapa masalah jemaah haji Malaysia, antaranya terlalu tumpukan kepada ibadat sunat dan abai soal kesihatan dikumpul hasil pemerhatian bekas petugas Tabung Haji (TH) sepanjang lebih 30 tahun berkhidmat. Namun, semua masalah ditangani secara bijak oleh petugas TH yang menggalas tanggungjawab.
Bekas Ketua Polis Negara Tun Hanif Omar meninggal dunia
Allahyarham difahamkan menghembuskan nafas terakhir pada jam 2.15 pagi tadi.
Coca-Cola, GSC meterai perjanjian konsesi baharu, lanjutkan perkongsian lebih tiga dekad
Kerjasama itu menandakan satu pencapaian kolektif yang penting serta melambangkan kepercayaan dan komitmen kukuh antara satu sama lain.
Euro 2020: Ronaldo tolak tepi minuman tajaan kejohanan
Cristiano Ronaldo mengetepikan botol tersebut dan menyebut 'agua', sekali gus memberikan mesej kepada semua supaya tidak mengambil minuman yang mengandungi gula yang tinggi itu.
Boikot Coca-Cola hanya merugikan pekerja tempatan - Pengurusan
Menurut Pengurus Coca-Cola Malaysia Ahmed Yehia, tindakan boikot itu juga akan menjejaskan semua pihak yang bergantung kepada rantaian bekalan jenama itu di Malaysia.
Coca-cola perluas kemudahan sedia ada di Nilai
Syarikat minuman, Coca-Cola yakin dengan prospek ekonomi Malaysia dan merancang untuk terus melabur di negara ini.
Coca-Cola nafi botol aluminium edisi terhad UEFA Euro 2016 mengandungi alkohol
Bahan-bahan dan proses pengeluaran yang digunakan dalam pengeluaran minuman Coca-Cola dikawal ketat oleh kerajaan dan pihak berkuasa kesihatan.
'Gila' redah kedai kopi kampung demi poster iklan Coca-Cola
Sam Hew, anak Kemaman,Terengganu sanggup meredah pelbagai kampung di pelbagai daerah demi untuk memenuhi 'kegilaannya' terhadap Coca-Cola.