Almost a third of the world’s biggest brands will suspend spending on social media or are likely to do so, according to a survey of top advertisers that reveals the scale of the revolt facing platforms such as Facebook, Snapchat and Twitter. He expects the movement to have a more lasting impact across social media than the one-month Facebook boycott first launched by the #StopHateForProfit campaign. Advertisers pausing social media spending include Unilever, Verizon, Adidas, Starbucks, Coca-Cola, Ford and HP. Some brands are taking part in a one-month boycott of Facebook, while others are pulling back from social media more broadly for periods of up to six months. ChangesMr Loerke said the advertising industry was seeking more fundamental changes from all social media platforms.

Source: The Irish Times June 30, 2020 12:33 UTC