Among global brands, which account for more than $43 billion in ad spend, three in four have reallocated, reduced or completely cut spending.
As the crisis in Ukraine worsens, the Global Association of Advertisers (WFA) is urging all members of the organization to “carefully” review and reconsider current media and marketing investments in Russia. In particular, in media that are close or have effective links with the Russian government.
“In light of the horrific events in Ukraine, the global marketing industry must speak out. Each company will have to make its own decision, but our recommendation is that investment in media and marketing in Russia should stop for now,” said Stephan Loerke, CEO of the WFA.
According to the entity, it will also act, together with members and partners in the Global Alliance for Responsible Media (GARM), to ensure that advertising resources are not used to support or monetize disinformation campaigns.
The association ran a survey to understand how large companies are dealing with the situation. Among 31 global brands, responsible for handling more than $43 billion in ad spend, three out of four have reallocated, reduced or completely cut spending.
