Unilever has become the latest company to boycott Facebook advertising. The CPG giant announced on Friday that it’s pausing all ads on Facebook, Instagram and Twitter throughout “at least” the end of the year.
Unilever owns dozens of popular household brands like Hellmann’s mayonnaise and Dove soap, and typically spends more than $1 billion each year promoting them through various ad channels.
“Given our Responsibility Framework and the polarized atmosphere in the U.S., we have decided that starting now through at least the end of the year, we will not run brand advertising in social media newsfeed platforms Facebook, Instagram and Twitter in the U.S. Continuing to advertise on these platforms at this time would not add value to people and society. We will be monitoring ongoing and will revisit our current position if necessary,” the company said in a statement
According to CNBC, Facebook and Twitter shares both fell more than 7 percent after the Unilever announcement.
Unilever said that it would maintain its planned advertising investment by shifting its spending to other media.
