MarketWatch: Starbucks pulling ads from Facebook and other social-media platforms

Commentary, News

Published: June 28, 2020 at 1:32 p.m. ETBy 

Tim Rostan

Starbucks SBUX, 1.02% announced Sunday in an online statement that it is “pausing” advertisements on all social-media platforms, two days after consumer-products conglomerate Unilever UN, -1.43% ULVR, -2.12% UNA, -2.83% said it was halting U.S. advertising on Facebook FB, -0.66% and Twitter TWTR, 1.27% through year-end over ineffective policing of hate speech, leading to a sharp Friday selloff in both stocks. The coffee giant said it would “continue discussions internally, with our media partners and with civil-rights organizations in the effort to stop the spread of hate speech.” Verizon Communications Inc. VZ, 1.32% and ice-cream company Ben & Jerry’s, itself a unit of Unilever, had previously pulled advertising from Facebook. Coca-Cola Co. KO, 1.06% joined the Facebook ad boycott Friday. Facebook late Friday reversed course and said it would now hide or block content considered hateful or endangering voting, removing a prior exception for politicians.

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