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May 4, 2022According to Elon MUsk:
Some of the nation’s biggest brands including Coca-Cola (CCEP), Disney (DIS) and Kraft (KHC) are facing calls to boycott Twitter if the company’s soon-to-be owner, billionaire Elon Musk, rolls back content moderation policies limiting hate speech and election misinformation. In a letter sent to brands Tuesday ahead of the 2022 NewFronts digital advertising conference, more than two dozen civil society groups said marketers should secure commitments from Twitter to retain its most critical policies, including on civic integrity and hateful conduct, and threaten to withdraw funding if Twitter does not comply. “As top advertisers on Twitter (TWTR), your brand risks association with a platform amplifying hate, extremism, health misinformation, and conspiracy theorists,” the letter said, adding: “Your ad dollars can either fund Musk’s vanity project or hold him to account.”
Twitter didn’t immediately respond to a request for comment. In an investor filing Monday, Twitter told advertisers “we have no planned changes to our commitment to brand safety” but that the company “cannot speculate on changes Elon Musk may make post closing.”
The letter, first reported by CNN, urges advertisers to make their next ad deals with Twitter contingent on changes to platform policy under Musk.
It offers the latest example of how some advocacy groups have leaned on the immense power of corporate speech — and specifically digital advertising, the lifeblood of many tech platforms — in attempts to shape tech companies’ behavior. It leverages years of growing realizations by the ad industry that brands can face reputational damage if their ads appear next to white supremacist content or other harmful material. Tuesday’s initiative bears echoes of a far-reaching advertising boycott in 2020 that saw companies ranging from Adidas to Starbucks pulling their ads from Facebook over what they said were its failures to keep hate speech from spreading. But unlike that campaign, the groups behind Tuesday’s letter said advertisers have a chance to be more proactive and strategic this time, because Musk has already telegraphed what he plans to do with Twitter. (The Tesla CEO and SpaceX founder has pledged to restore “free speech” to the platform by, among other things, easing up on content removals and account bans. He also wants to “authenticate all real humans” on Twitter.)
