Unilever will stop running U.S. ads on Facebook Inc. and Twitter Inc. for the rest of the year, citing hate speech and polarizing politics. “Continuing advertising on these platforms at this time will not add value to people and society,” the company said in an emailed statement. “We will monitor the situation and reconsider our decision if necessary. “
Facebook shares fell 7.3 percent at one point and Twitter fell as much as 8.2 percent. Based on its communications with marketers, Facebook has been telling advertisers that its policies are based on principles rather than business interests.
The company has been talking to advertisers about some of its recent initiatives, including voter registration and the release of verified election information.
It was not only Unilever who decided to withdraw the ads because of their dissatisfaction with the social media platform’s inaction on hate speech, but also Ben and Jerry’s (a Unilever subsidiary), Verizon Communications Inc. and Patagonia.