This archive report was first published on 8 July 2020.
On June 25, Facebook CEO Mark Zuckerberg announced a review of the company's policies on hate speech and voter suppression. The move came as a massive advertiser boycott gained momentum, with over 160 major brands joining the #StopHateForProfit campaign.
Facebook has been under pressure to moderate hate speech on its platform, particularly after it failed to flag posts by US President Donald Trump that appeared to advocate violence against protesters following the killing of George Floyd in May.
Despite this, Facebook says it has been working to remove hateful content from its platforms, with nearly 90 per cent of hate speech posts being found and taken action on before they're reported.
"We invest billions of dollars each year to keep our community safe and continuously work with outside experts to review and update our policies," a Facebook spokesperson told The EastAfrican in an email.
However, the company's efforts have not been enough to stop the advertiser boycott. Major brands such as Starbucks, Adidas, and Puma have all pulled their advertisements from the platform, with Puma tweeting that it would stop all advertisements on Facebook and Instagram throughout July.
Facebook generates about 98 per cent of its $70 billion annual revenue from advertising, making the boycott a significant blow to the company's bottom line.
