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The Coca-Cola Company will stop running paid ads on all social media platforms amid an industrywide call for brands to reevaluate where they spend their ad dollars.
“There is no place for racism in the world, and there is no place for racism on social media,” CEO and chairman James Quincey said in a statement to Adweek.
The beverage company will pause all international paid social media advertising for the next 30 days to “reassess our advertising policies to determine whether revisions are needed,” Quincey said.
Coca-Cola’s decision comes at the end of a long week in which companies announced they would stop advertising on Facebook because of the platform’s policies on rooting out misinformation and hateful content.
A formal ad boycott started online in mid-June after anonymous industry insiders began calling for brands to realign their spending and stop advertising on Facebook.