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July 17, 2020, 12:57 p.m. EDT

Here are the major brands that have pulled ads from Facebook

From Adidas to Verizon, more big names are joining ad boycott

By Jon Swartz


Getty Images

Since an advertising boycott of Facebook Inc. was organized in mid-June, a veritable Who’s Who of major brands have either added their names to the #StopHateForProfit campaign or otherwise pulled their ads.

Facebook makes almost all of its revenue via advertising. Still, analysts are expecting the company to take a less-than-5% revenue hit due the boycott. The social-media giant has more than 8 million paying advertisers, Rohit Kulkarni, executive director at MKM Partners, noted this week in a note to clients.

Civil rights groups have called on large advertisers to pause their Facebook advertising for the month of July, to protest what they say is the company’s inability to properly rein in racist and violent content and misinformation.

Facebook shares (NAS:FB)   are down 2.4% over the past month, but are up nearly 11% year to date, compared to the S&P 500’s (S&P:SPX)   4% decline this year.

Of the more than 1,000 companies worldwide that have joined the ad boycott, some of the most prominent include:

Adidas AG (OTC:ADDDF)  *

Arc’teryx

Bayer AG (BUD:HU:BAYER)  

Ben & Jerry’s Homemade Holdings Inc.

Beam Suntory Inc.

Birchbox

Blue Bottle Coffee Inc.

Blue Shield of California

Chobani

Clorox* (NYS:CLX)  

Coca-Cola Co. (NYS:KO)  

Dashlane

Denny’s Corp. (NAS:DENN)  

Diageo plc (OTC:DGEAF)   

Eddie Bauer LLC

Eileen Fisher

Ford Motor Co. (NYS:F)  

Hershey Co. (NYS:HSY)  

Honda Motor Co. (NYS:HMC)  

HP Inc. (NYS:HPQ)  

JanSport

Kimberly-Clark Corp. (NYS:KMB)  

Levi Strauss & Co. (NYS:LEVI)  

Magnolia Pictures

Massachusetts Mutual Life Insurance Co.

Microsoft Corp. (NAS:MSFT)  

Patagonia Inc.

Patreon

Pfizer Inc. (NYS:PFE)  

Puma SE (OTC:PMMAF)  

The North Face

Recreational Equipment Inc.

SAP AG (NYS:SAP)  

Starbucks Corp. (NAS:SBUX)  

Upwork Inc. (NAS:UPWK)  

Unilever (NYS:UL)  

Vans

Verizon Communications Inc. (NYS:VZ)  

Vertex Pharmaceuticals Inc. (NAS:VRTX)  

* Pulled ads, but have not formally joined the campaign.

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