During the annual Cannes Lion advertising festival held at French Riviera this year which had executives from world’s top advertising agencies the discussions centered on unprecedented scrutiny by government agencies on Facebook and Google which control a large majority of the world’s digital advertising market. Government agencies around the world are trying to hold these two large tech firms from accountable for content on their platforms and ways through which they protect user data. A few presidential candidates from Democratic Party of US have also publicly announced their intent to break down Facebook and Google.
These regulatory challenges were discussed along with ways to invest the $600 billion that these executives are planning to spend on advertising this year. Some of the largest names in advertising industry have decided to form an “Alliance for Responsible Content” at this festival. Tech platforms Facebook, Twitter and Google have formed an alliance with thirteen other advt. agencies to create standards for appropriate content and set up expectations about how they will stop offensive content from showing surfacing on social media. This move is being made to protect them from future liability as Senator Josh Hawley has proposed a new legislation by overhauling Section 230 of Communications Decency Act.
As CEO of Media Link Michael Kassan says, brand safety is critical l for everyone and to protect that platforms have to have a certain level of responsibility. If networks were putting inappropriate content on air then their reputation would go down and so would their customers as clients want to be only on brand-safe platforms. The entire advertising industry of both online and online resources is taking collective action to ensure that digital advertising platforms are safe for their clients to showcase themselves before potential customers. Advertisers say that brands will move away their advertising dollars from large tech digital platforms if things don’t change.