World Federation of Advertisers CEO Stephan Loerke believes the slew of big brands publicly pausing social media advertising aren't likely to come back until real change is made. 'We moved from brand safety to, I think, societal safety.'
But even if ads aren't appearing in or alongside specific videos, the video platforms are financed substantially by ad dollars. And since so much of the web is funded by advertisers, many ofAll of this has created a turning point, Loerke says, moving from an era of media being all about efficiency and effectiveness and reach to one where the allocation of media spend has a strategic dimension.
"The way you allocate your media spend, where you put your ads, talks about your company," he said. "We moved from brand safety to, I think, societal safety."Loerke says he believes operators in the ecosystem, including the social media platforms, have an interest in mitigating hateful speech and content.
"That leads to plenty of operators which operate in good faith, but a system which is simply unscalable and inefficient," he said. "The only way to address this is to find a system and to put in place a system which is across the ecosystem, which will allow brand owners to make informed choices about where they put their ads."
He said for that to happen, four things need to be changed: Content needs standardization, so there is alignment, for instance, in the definition of "hate speech" across entities; data needs to be collected about incidents of hate speech and other harmful content in a unified way; third-party verification is needed instead of self-reported data; and tools that operate across the ecosystem that let brands act according to their values.
"I think the fact that pressure is increasing and that public visibility of this has reached the level it has reached today; it is going to be helping accelerate our effort," he said.
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