What started out as a few whispers about advertisers pulling Facebook ads has turned into a growing boycott of the social network over its content moderation policies — a situation the company is now describing as a “trust deficit.”
Why it matters: Given Facebook’s size, the boycott likely won’t hurt the company’s bottom line in the short term, but it turns up the political pressure on Facebook ahead of the 2020 election and underscores the company’s challenges managing its public image.
Driving the news: In a call with over 200 advertisers Tuesday, Facebook’s head of trust and safety policy Neil Potts “acknowledged that the company suffered from a trust deficit,” according to the Financial Times. A source familiar with the meeting confirmed the comment.
Heavyweights in the ad industry have also begun pressing marketers to pull their dollars.
Our thought bubble: Facebook’s ad platform is still so powerful that it will be hard to get a huge coalition to boycott the brand for an extended period of time.
What they’re saying: Facebook’s VP of Global Marketing Solutions Carolyn Everson said in a statement to Axios last week, “We deeply respect any brand’s decision and remain focused on the important work of removing hate speech and providing critical voting information. Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good.”
The big picture: The boycotts are a result of pent-up frustration from lawmakers and marketers over Facebook’s content moderation policies, which many feel don’t go far enough in helping to curb hate speech and harmful content online.
The bottom line: The political and social pressure on Facebook is ramping up, but the tech giant doesn’t show any signs of seriously changing its policies in response to the mounting pressure, as most politicians and marketers seem to benefit too much from Facebook advertising to really give it up long-term.