Disney, one of the largest advertisers on the embattled social media platform, Facebook is cutting back on ad spending on the site. The Wall Street Journal reports that the timeframe of the cuts is not known.
Disney’s cuts include ads for its high-profile streaming service, Disney Plus. It will also halt ads on Facebook-owned Instagram for its other streaming service, Hulu.
Disney did not make an announcement on cutting its ads on Facebook, choosing to do so quietly. Facebook has faced a barrage of advertising cuts and criticism on its platform.
The criticism involves its handling of hate speech and misinformation on its platform, especially as highlighted by recent occurrences in the civil rights and justice movements fueled more recently by the killing of George Floyd during an arrest by police.
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The #StopHateforProfit campaign, a boycott meant for Facebook to better regulate hate speech and misinformation was started by a group of civil rights organizations, including the Anti-Defamation League and the NAACP.
The organisers of the boycott had described their meeting with the social media giant as frustrating. Both parties held the meeting in which Facebook’s policy team, COO Sheryl Sandberg and Chief Product Officer Chris Cox were present over videoconferencing app Zoom.
Color of Change President, Rashad Robinson described the meeting as a disappointment. “At this point, we were expecting a very clear answer to the demands we are making, and we did not get that,” he said.
According to the Wall Street Journal, Disney was Facebook’s top US advertiser, for the first six months of 2020. In 2019 it was second, after Home Depot. The company spends an estimated $210 million on Facebook ads for Disney Plus in the US alone.
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