MENLO PARK, California (AP) - The Wall Street Journal reports that the Walt Disney Co. has "dramatically" slashed its advertising budget on Facebook and Facebook-owned Instagram.
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 top 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.
