More brands join the boycott against social networks

Danish-origin firm LEGO to suspend advertising on social media platforms for at least thirty days

The campaign against social networks continues to grow as more brands join the call for stopping advertisements on social networks, with LEGO joining the list.

On Wednesday, the Danish-origin firm said it will suspend all advertising on social media platforms globally for at least thirty days.

According to LEGO, this sabbatical month will be to analyse all their participation in this type of scenario in which the brand and all its products are projected, this as part of its commitment to generate a positive impact on children and the world.

We are committed to having a positive impact on the children and the world they will inherit. That includes contributing to a positive and inclusive digital environment, free from hate speech, discrimination and disinformation, Julia Goldin, Chief Marketing Officer of the brand of the iconic blocks said in a statement released Wednesday.

The executive explained that this does not mean that they will stop marketing and publishing, but that instead of doing it on social platforms, they will evaluate their options to execute actions through other channels.

We will take immediate steps to carefully review the standards we apply to advertising and engagement on global social media platforms. As we do so, we will stop all paid advertising on global social media platforms for at least 30 days. We will not change our media investment during this period, and instead we will invest in other channels. (…) We are sure that solutions exist, but urgent measures are needed, he added.

Although for some specialists the boycott against Facebook will hardly affect their income significantly since transnational brands are not their main source of income but SMEs, in reality the impact and weight of the actions of brands of this size translates into an impact on its corporate reputation, brand image and an impact on the stock markets, where it has already lost more than $ 60 billion.

Volkswagen, Adidas, Coca-Cola, Diageo, Ford, Hershey, Honda, Levi’s, Microsoft, North Face, Pepsi, Reebok, Starbucks, Unilever and Verizon are among more than one hundred brands that have stopped their advertising investment on the social network, Instagram and other platforms.

According to a survey of top 58 advertisers quoted in Business Insider, nearly a third are considering stopping their advertising on social media as part of the boycott. This percentage could grow as days progress.

In this context, for Facebook it should be a signal that turns on all alerts.

According to its last financial report, during the first quarter of the year its business had a profit of 5 billion dollars, which translates into a growth of 18 percent compared to the same period of the previous year. However, it saw a drop in advertising revenue in late March due to the coronavirus crisis.