Starbucks Joins Coca-Cola and Others in Facebook Boycott
Starbucks, the world's largest coffeehouse chain has joined Verizon, Hershey's, Denny's, Honda, and other companies in the Facebook boycott. Starbucks is the sixth-largest advertiser on Facebook for total advertising, so this definitely getting Mark Zuckerberg's attention.
The big reason these big named brands are joining the boycott, or simply "pausing" advertising is the Stop Hate For Profit Campaign. The campaign is asking businesses to stand up for freedom, justice, and equality for all during the month of July, and not advertise on Facebook and other social media platforms.
One company who has not officially joined the Stop Hate For Profit Campaign, but has put a pause on their advertising is soft drink giant Coca-Cola. In a recent statement, Coca-Cola CEO and Chairman, James Quincey, said:
“The Coca-Cola Company will pause paid advertising on all social media platforms globally for at least 30 days. We will take this time to reassess our advertising policies to determine whether revisions are needed. We also expect greater accountability and transparency from our social media partners.”
It remains to be seen what Facebook will do about this. Many experts believe that Facebook is looking to weather this storm and not change their platform. In a leaked memo last week that was obtained by CNBC, Facebook's VP of global business solutions, Carolyn Everson said that the company
"Does not make policy changes tied to revenue pressure."
While most believe that Facebook is so big, and creates so much revenue on their social media platforms, that they will be just fine, others aren't so sure. Boycotts have been tremendously effective throughout history and most believe this fight is just beginning.