The Walt Disney Co. has "dramatically" slashed its advertising budget on Facebook and Facebook-owned Instagram, according to a report in the Wall Street Journal.
It's the latest setback for the social network, which is facing a growing advertising boycott over its policies and actions on hate speech on its platforms. The Journal, citing unnamed sources familiar with the matter, said the time frame for Disney's pullback was not clear.
Disney was Facebook's biggest U.S. advertiser for the first six months of 2020, according to research firm Pathmatics Inc. Disney joins hundreds of other companies that have paused spending on the service. The report did not say whether Disney is officially joining the ad boycott. Some companies, such as Starbucks, are pulling back social media advertising due to hate speech and other concerns but have not officially joined the "Stop Hate for Profit" campaign.
Representatives for Disney did not immediately respond to a Sunday message seeking comment.
The economic fallout from the pandemic has also cut into companies' advertising budgets.
Facebook said it does not comment on individual advertisers. The company said in an emailed statement Sunday that it invests "billions of dollars each year to keep our community safe and continuously work with outside experts to review and update our policies."
"We know we have more work to do, and we'll continue to work with civil rights groups, (the Global Alliance for Responsible Media coalition), and other experts to develop even more tools, technology and policies to continue this fight," Facebook said.
Angelina Jolie To Receive Gothams Performer Tribute For “Marie”
The Gotham Film & Media Institute has announced that Academy Award®-winner Angelina Jolie will receive the Performer Tribute for her performance as Maria Callas in Pablo Larrain’s upcoming film Maria, at the 34th edition of The Gothams, taking place on Monday, December 2, at Cipriani Wall Street in New York City. The tribute will honor Jolie’s rendition of legendary opera singer Callas.
“Like the legendary figure she portrays, Angelina Jolie transcends mere performance to craft something extraordinary. Her interpretation captures both Maria Callas’ complexity as an artist and the cultural resonance that defines an icon,” said Jeffrey Sharp, executive director of The Gotham. “We are thrilled to celebrate what is truly one of Ms. Jolie’s career-defining performances in the final installment of Pablo Larrain’s magnificent trilogy.”
Maria follows Callas, one of the most iconic performers of the 20th century, as she retreats to Paris after a glamorous and tumultuous life in the public eye. The film reimagines the legendary soprano in her final days as the diva reckons with her identity and life. Written by Steven Knight, with cinematography by Ed Lachman and costumes by Massimo Cantini Parrini, Maria has Jolie joined by a star-studded cast including Alba Rohrwacher (Hungry Hearts, Happy As Lazzaro), Pierfrancesco Favino (Padrenostro, Adagio), Kodi Smit-McPhee (The Power of the Dog, Dolemite Is My Name), and Valeria Golino (For Your Love, The Beautiful Game). Marie premiered to critical acclaim at the Venice Film Festival and Jolie’s performance continues to stun audiences at the New York Film Festival, London Film Festival and the AFI Fest. Maria will be in... Read More