Ad Boycott Latest Celebrity News & Gossip

In recent weeks, a series of companies have banded together to boycott advertising on Facebook for the month of July in order to pressure the company to do more to combat racist, hateful and violent posts on its platform.

American corporate giants Ford, Pepsi and Microsoft are the latest blue-chip companies to join the growing advertising boycott of Facebook and its subsidiary Instagram over its failure to deal with hate speech and misinformation on its platform. “We are pausing all national social media advertising for the next 30 days to re-evaluate our presence on these platforms,” Ford said in a statement to Ad Age.

Dade Hayes Finance EditorStarbucks, Coca-Cola and Diageo have joined a growing advertiser boycott of Facebook, but Wall Street analysts are split on its ultimate impact on the tech giant.About 170 companies of varying sizes have paused ads on Facebook in an organized response to the social networking company’s lax response to misinformation and misleading political speech. General Motors said Monday it is evaluating its spending.

Starbucks, Levi's and global alcoholic drinks giant Diageo are the latest blue-chip companies to join the growing advertising boycott of Facebook and its subsidiary Instagram over the social media giant's handling of racism, violence and misinformation on its platform. CNBC reports that Starbucks will pause advertising on "all social media platforms," but continue to post without paid promotion.

But where do Prince Harry and Meghan Markle come in? According to a source who spoke to this month, the are privately encouraging CEOs to “stand in solidarity” with the civil rights initiative. “As we've been developing , one of the areas The Duke and Duchess of Sussex have been keen to address is online hate speech, and we've been working with civil rights and racial justice groups on it,” the source said.

Verizon became the biggest company yet to join the growing #StopHateForProfit campaign, with the telecoms giant pledging on Thursday to pull its ads from Facebook and its subsidiary Instagram until the social media platforms "can create an acceptable solution that makes us comfortable." CNBC reportedthat Verizon was suspending its Facebook ads.

Dade Hayes Finance EditorVerizon has joined a growing boycott of advertisers boycotting Facebook and its Instagram subsidiary after the company’s handling of objectionable posts has left many brands uneasy on the massive social platforms.“We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with what we’ve done with YouTube and other partners,” the company said in a statement.

Hollywood studio Magnolia Pictures, ice cream maker Ben & Jerry's and sporting equipment giant Eddie Bauer are the latest companies to announce that they will join a growing advertising boycott of Facebook and Instagram for the month of July over the social media giant's failure to stop the spread of misinformation and dangerous content on its platforms. On Tuesday, Magnolia became the first Hollywood company to join the boycott.

July ad boycott, dubbed the #StopHateForProfit campaign.The movement is driven by civil rights groups like the NAACP and the Anti-Defamation League. Last week, the groups accused CEO Mark Zuckerberg of allowing extremists to promote violence, thanks to Facebook’s laissez-faire moderation policies in comparison to other tech companies.