On Wednesday, advertisements of over 400 hundred brands including Starbucks and Coca-Cola had disappeared from the Facebook Inc.’s social networking platform, as a last-ditch talk between the advertisers and Facebook Inc.
held on Tuesday aimed at stalling the one-month-long ad boycott over hate speeches, had botched to bear fruits. In point of fact, Wednesday’s decision from some 400 advertisers, which had boarded on to the platform of US Civil rights group in a bid to pressure the social media behemoth to take solid steps to block out hate speeches in light of the death of George Floyd, a black American, during an interrogation conducted by a white police officer over concrete evidence on potential federal offences, came forth days after the Menlo Park, CA-based social networking giant had issued a statement saying that it had taken steps to label contents that could spread detestation on race, religion, gender and might lead to potential physical harms or violence.
However, according to at least three sources who had attended a Tuesday meet between the Facebook executives including Facebook Vice President of global business solution Carolyn Everson alongside public policy director Neil Potts and the advertisers, were quoted saying on Wednesday that the Facebook executive had declined to sway away from their present stance and had opposed the concept to initiate concrete attempts to block out the hate speeches at its platform, which eventually had led to a 30-day ad boycott that could result in a loss of billions of dollars in ad revenues for the social networking tycoon, suggested analysts.
Facebook Executives offer no new detail on how they plan to tackle hate speech
Meanwhile, as Facebook executives had failed to convince the advertisers over its approach to block the hate speeches, which would likely to rise over the coming weeks ahead of the November 2020 US Presidential election, and a 30-day ad boycott had begun on Wednesday, referring to Facebook Inc.’s reluctancy to a sweeping overhaul of its content labelling strategy, one of the executives of a major ad agency said, “It’s simply not moving. ”