Disney, Facebook’s biggest advertiser this year, slashes advertisements on platform
The Walt Disney Co. has “dramatically” slashed its marketing budget on Facebook and Facebook-owned Instagram, regarding to a report in the Wall structure Street Journal.
It’s the latest setback for the social network, which is facing a growing advertising boycott over its guidelines and actions on hate speech on its platforms. The Journal, citing unnamed sources familiar with the subject, said the time frame for Disney’s pullback was not clear.
Disney was Facebook’s biggest US advertiser for the primary six months of 2020, according to analyze firm Pathmatics Inc. Disney joins hundreds of other companies that have paused shelling out for the service. The article did not say whether Disney is normally officially joining the ad boycott. Some businesses, such as Starbucks, will be pulling again social media advertising due to hate speech and other concerns but have certainly not officially joined the “End Hate for Profit” plan.
Representatives for Disney didn't immediately respond to a message seeking comment.
The monetary fallout from the pandemic has also cut into companies’ advertising budgets.
Facebook said it generally does not comment on individual advertisers. The business said in an emailed affirmation that it invests “vast amounts of dollars each year to retain our network safe and constantly work with outside authorities to review and update our policies.”
“We know we've more work to accomplish, and we’ll continue steadily to work with civil rights teams, (the Global Alliance for Responsible Mass media coalition), and other professionals to develop a lot more tools, technology and policies to continue this battle,” Facebook said.
