Facebook’s Top Advertiser Disney Cuts Ad Spending, WSJ Says
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Walt Disney Co., the No. 1 advertiser on Facebook Inc., has “dramatically slashed” spending on the platform, the Wall Street Journal reported, citing people familiar with the situation.
The move comes as a growing list of companies, including Coca-Cola Co. and Verizon Communications Inc., halted spending on the platform amid criticism of the social media giant’s handling of hate speech and misleading content. Disney was Facebook’s top U.S. advertiser for the first six months of 2020, devoting an estimated $210 million on ads just for Disney+, the Journal said, citing research firm Pathmatics Inc.