The consumer goods company — which owns brands such as Dove, Lipton and Ben & Jerry’s — will say it will pull its ads from these companies unless they clean up the “swamps” that they have allowed to fester online. Unilever marketing boss Keith Weed will issue this warning later today, according to copy of his speech obtained by CNN.
“We cannot continue to prop up a digital supply chain … which at times is little better than a swamp in terms of its transparency,” Weed will say in his speech. “This is not something that can be brushed aside or ignored.”
The Unilever marketing boss notes that these digital platforms have allowed fake news, sexism, racism and extremism to reign, thus creating an issue regarding whether or not these platforms can be trusted, especially when it comes to what children consume.
The company has an annual marketing budget of about €8 billion ($9.8 billion) and about 25% of its ads are digital. Facebook and Google make up a chunk of the online ad market as these two companies have garnered more than 60% of digital ad spending in 2017.
UL stock gained 2.1% Monday, FB shares fell 0.3%, GOOG stock surged 1.5% and GOOGL shares rose 1.2%.