Market Overview

Facebook Ready For An Audit On Hate Speech In An Effort To Address Advertiser Concern

Facebook Ready For An Audit On Hate Speech In An Effort To Address Advertiser Concern

In a call with advertisers on Tuesday, Facebook Inc (NASDAQ: FB) said it is ready for an audit on how it tackles hate speech. 

What Happened

In an effort to address the concern of advertisers, Facebook has agreed to collaborate with Media Rating Council, a non-profit that audits and accredits market research and audience rating services, to gauge how the social network prevents ads from appearing next to harmful content, reported Reuters. 

The Council will also review the accuracy of Facebook’s reporting in particular areas. The timing of the audit and what is to be audited has not been finalized. 

Major Facebook advertisers like Starbucks Corporation (NASDAQ: SBUX), Unilever NV (NYSE: UN) and others have either teamed up with the “Stop Hate for Profit” campaign backed by civil rights organizations or suspended social media advertising in an effort to do their bit to stop hate speech. 

Why It Matters 

According to Reuters, Facebook executives told advertisers that a new data point would be included about the prevalence of hate speech in its Community Standards Enforcement Report, which contains policies regarding how Facebook removes content that violates its policies.

Barry Lowenthal, CEO of The Media Kitchen, an ad agency, who attended the call on Tuesday, said he believed the problem had become large enough to require drastic measures. 

Lowenthal said, “Maybe they should hit pause on the platform entirely,” adding, “How much more can society handle?”

Last week, Mark Zuckerberg, CEO of Facebook, announced that posts by politicians violating the company’s policies would all be labeled without exception.

FB Price Action 

Facebook shares traded 0.60% lower at $225.70 in the after-hours session on Tuesday. The shares had closed the regular Friday session 2.91% higher at $227.07.


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Posted-In: advertising Hate Speech Mark ZuckerbergNews Politics Tech Media General Best of Benzinga

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