Facebook policy changes fail to quell advertiser revolt as Coca-Cola shoots ads | Technology

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Facebook announced changes to its policies regarding hate speech and suppressing voters, but the measures did little to quell the tide of businesses advertising the platform in the midst of reactions violent about the way the business handles online hate speech.CEO Mark Zuckerberg on Friday announced changes to a number of policies, hours after multinational Unilever announced that it would remove its ads from the platform for the next six months.

Zuckerberg’s announcements, however, did not end the companies’ requests for change. On Friday afternoon, Coca-Cola, Honda, the chocolate brand Hershey and the clothing manufacturers Lululemon and Jansport joined the more than 100 brands that boycott Facebook advertising.

Facebook generates about 98% of its $ 70 billion in annual revenue from advertising, and Unilever’s announcement drove Facebook stocks down 7%.

Unilever’s boycott membership has put considerable pressure on Facebook, said Nicole Perrin, senior analyst at market research firm eMarketer. As one of the biggest advertisers in the world, his moves could influence other brand advertisers to follow his example, she said. It also resulted in longer spending than other companies and on more platforms, including Instagram and Twitter.

“This suggests a deeper problem with user-generated content platforms, because division is to be expected on any such platform that allows political expression,” she said.

The changes announced on Friday are the most significant that Facebook has made after months of action by employees and lawmakers, but critics say they are still too gradual.

Facebook said it would take a similar approach to that of Twitter, labeling posts that might violate its policies but are allowed to stay on the platform because they are deemed to be of interest.

The platform will also include a link to its voting information center on any message containing information about the vote, including by politicians: “It is not a judgment of whether the messages themselves are accurate, “said Zuckerberg.

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