Ford, Adidas and Denny's join the growing list of companies pausing Facebook ad spending - CNBC

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Founder and CEO of Facebook Mark Zuckerberg speaks at the annual Munich Security Conference on February 15, 2020.

Kuhlmann | Munich Security Conference

Major advertisers are continuing to join the "#StopHateForProfit" campaign, promising to stop spending money on Facebook ads in July to pressure the company to do more to stop the spread of hate speech and misinformation. 

Although these advertisers include some big-name brands, they aren't necessarily the biggest spenders on Facebook in the U.S. For instance, none of these brands were in the top 100 spenders on Facebook in the U.S. so far this year, according to marketing analytics company Pathmatics. 

The growing campaign did not appear to trouble investors on Monday, as they sent Facebook shares up more than 2%.

Here's a rundown of companies that announced they were suspending advertising on Monday.

• Adidas and its Reebok subsidiary will suspend Facebook and Instagram advertising globally through the end of July. The companies said they will "develop criteria to hold ourselves and every one of our partners accountable for creating and maintaining safe environments."
• Consumer electronics retailer Best Buy said it will pause advertising on Facebook and Instagram starting July 1. The company said as of now, the pause will go through July. 
• Cleaning supply giant Clorox is stopping advertising on Facebook and Instagram through December and will shift its ad spend to other media. It will also stop spending on Facebook Audience Network. 
• Conagra, the maker of Slim Jim, Duncan Hines and Pam, will stop U.S. advertising with Facebook and Instagram through 2020. 
• Fast food chain Denny's is joining the campaign and will not advertise on Facebook or Instagram for the month of July.
• Schick, Playtex and Wet Ones owner Edgewell Personal Care said it would pause paid North America and Europa advertising for its more than 25 brands on Facebook and Instagram beginning Wednesday, until further notice. It will also pause spending on Facebook Audience Network. 
• Ford is pausing all U.S. social media advertising for the next 30 days in order to evaluate its presence on the platforms, the company said. 
• HP will stop U.S. advertising on Facebook until the company sees "more robust safe guards in place," the company said Monday. 
• Sportswear maker Puma said on Twitter it was joining the "#StopHateForProfit" campaign and "stopping all advertisements on Facebook and Instagram throughout July."

These companies join Coca-Cola, Diageo, Honda, Starbucks, Verizon and Unilever among others. In some cases, companies also suspended ad spending on other social media platforms as well.

The boycott comes after a group of organizations called on Facebook advertisers to pause their spending on the social media platform during the month of July.

The groups -- the Anti-Defamation League, the NAACP, Sleeping Giants, Color of Change, Free Press and Common Sense -- accused Facebook of allowing  allowing "racist, violent and verifiably false content to run rampant on its platform," letting its platform be used in "widespread voter suppression efforts, using targeted disinformation aimed at Black voters" and allowed "incitement to violence against protestors fighting for racial justice in America," among other claims.

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June 30, 2020 at 05:23AM
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Ford, Adidas and Denny's join the growing list of companies pausing Facebook ad spending - CNBC

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