Starbucks joins the growing list of companies that have withdrawn advertising dollars from social media to defend themselves against the hate speech that is widespread on the online platforms.

"We believe that more needs to be done to create inviting and inclusive online communities, and we believe that both leaders and policymakers must come together to bring about real change," Starbucks said in a statement.

"We will stop advertising on all social media platforms while continuing internal discussions with our media partners and civil rights organizations to stop hate speech from spreading," the company added.

However, the social media advertising break will not include YouTube, a Starbucks spokesman told The Verge. The coffee chain will continue to post on social media channels, but will not launch paid promotions.

The Starbucks move follows a similar move from Coca-Cola, stating that social media advertising will cease entirely for 30 days.

"There is no place for racism in the world and no place for racism in social media," said James Quincey, CEO and Chairman of Coca Cola, in a statement to CNBC.

Facebook advertising boycott

The biggest advertising boycott against Facebook, called the Stop Hate for Profit campaign, started because the social network dealt with President Donald Trump's post in the protests in Minneapolis triggered by the murder of George Floyd, who blocked on Twitter and was labeled "glorify violence." Mark Zuckerberg, CEO of Facebook, subsequently revealed changes to various content moderation policies, including the ban on hate speech in ads.

Unilever and Verizon are major brands that have withdrawn advertising on Facebook. Similar to Coca-Cola, Starbucks' decision is not part of the Stop Hate for Profit campaign, a spokesman told Digital Trends.

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