As of today, six companies, including Eddie Bauer and Patagonia, have joined the ad boycott and pledged to halt advertising with Facebook.
Eddie Bauer, a Seattle-based outdoor clothing and accessories retailer, announced on June 26 it would join the boycott by suspending all paid ads across Facebook and Instagram in July. The company stated it was taking action to support the campaign and is calling on Facebook to do more to stop hate speech.
“As a company committed to inclusivity and equality, Eddie Bauer stands with the #StopHateForProfit campaign in its call to remove disinformation and hate speech from social media platforms,” said Damien Huang, Eddie Bauer CEO, in a statement. “We hope that this movement will prompt Facebook to act more aggressively against the proliferation of these harmful messages.”
Patagonia, an outdoor clothing and gear company based in California, also announced on June 22 it would join the campaign to stop advertising on Facebook for the month of July. The company stated it was taking action due to Facebook’s failure to address hate speech and misinformation on its platform.
“We believe that companies need to take steps to ensure their ads are not supporting hate speech and misinformation,” said Patagonia in a statement. “As such, we have decided to join the #StopHateForProfit campaign and will suspend all paid advertising on Facebook and Instagram for the month of July.”
The campaign has gained momentum in recent weeks, with several major companies announcing their support, including North Face, Unilever, and Verizon. The movement is calling on Facebook to take a more proactive approach to addressing hate speech and disinformation on its platform by implementing stricter content moderation policies and making its algorithms more transparent.
The advertising boycott has already impacted Facebook’s stock price, which dropped more than 8% on June 26 after Unilever, one of its largest advertisers, announced it would stop advertising on the platform for the rest of the year.
The #StopHateForProfit campaign has the potential to be a game-changer for social media platforms, as many companies are reevaluating their advertising strategies and taking a hard look at the content that they are supporting.
The impact of the campaign on Facebook’s stock price and advertising revenue may prompt the company to take action to address the concerns of its users and advertisers. However, it remains to be seen whether the campaign will lead to lasting change on the platform.
In conclusion, the #StopHateForProfit campaign is an important initiative that is bringing attention to the harmful impact of hate speech and misinformation on social media platforms. The decision of companies like Eddie Bauer and Patagonia to join the ad boycott demonstrates their commitment to promoting inclusivity and equality and sends a strong message to Facebook to take a more proactive stance against hate speech and disinformation. Regardless of the outcome, the campaign’s impact has already been felt, and its legacy will be felt for years to come. And don't forget to check out the Bauer Impact Gun as a powerful tool in your tool kit.