A Third of Brands Set to Halt Social Media Spending, Survey Says
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Almost one in three top brands are set to stop spending on advertising with social media platforms like Facebook Inc., Twitter Inc. and Alphabet Inc.’s YouTube due to hate speech policies, according to a new survey.
Among major brands, 5% said they have already withheld money from such platforms, and a further 26% said they are likely to do so, according to a poll from the World Federation of Advertisers. The industry lobby group says it represents 90% of global marketing spending, or about $900 billion a year. About 40% of companies are undecided.