WFA calls on brands to reconsider media spend in Russia
WFA has expressed its horror at the needless human suffering caused by Russia’s unprovoked invasion of Ukraine adding that the thoughts of the entire organisation and its membership were with the victims.
The association further said that most of its members have businesses in both countries and are rightly prioritising the safety and wellbeing of their people.
WFA has conducted a poll amongst its members to understand multinationals’ responses in relation to their media and marketing investment in Russia.
Of the 31 global brand owners representing $43bn in global ad spend who responded, three in four have reallocated, reduced or cut spend altogether.
WFA has called on all members to review and reconsider their current media and marketing investments in Russia, in particular with those media outlets that are close to or effectively part of the Russian administration.
It said that it would continue to work with its members and partners in the Global Alliance for Responsible Media (GARM) to ensure that advertising investment does not support or monetize misinformation and will be holding weekly meetings to provide the latest intelligence from members, agencies and platforms.
Stephan Loerke, CEO ,WFA: “In light of the horrifying events in Ukraine, the global marketing industry must speak out. Every company will have to make its own decision but our recommendation is that media investment and marketing in Russia should end for now.”
Follow Marketing Report on LinkedIn
Subscribe to the Marketing Report Newsletter
Send us your press releases, columns, interviews…
Join Marketing Report in our LinkedIn Groups
