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Kim Kardashian West freezes Instagram, Facebook pages to protest hate speech

Kim Kardashian West froze her Instagram and Facebook pages on Wednesday in protest of hate speech and misinformation — and she's not alone. Yahoo Finance's Alexandra Canal joins Zack Guzman to break down the latest.

Video Transcript

ZACK GUZMAN: But when we talk about other things going on here in the entertainment space, though, another one of those tech names dealing with maybe a bit of some pressure here from some big Hollywood stars, it seems like Kim Kardashian West is going to be joining the Stop Hate for Profit movement here and pausing her Instagram and Facebook accounts here for one day as well as some other celebrities here as well joining in. So talk to me a little bit more about that pressure now mounting.

ALEXANDRA CANAL: Yeah, so Kim Kardashian West is one out of many A-list celebrities, from Leonardo DiCaprio and Jamie Foxx to Katy Perry and Demi Lovato, who will be freezing their Instagram and Facebook accounts today to protest hate speech and misinformation. Now, Kim Kardashian is one of the more influential voices on Instagram. She has over 188 million followers on the platform.

She has said that she's gotten paid up to $1 million per sponsored post, so this is a really big social media tool for her. And when she came out yesterday and said that she would be freezing not only her personal accounts, but also the accounts of her company KKW Beauty, it really did seem to send some shockwaves because it underscores how widespread this Stop for Hate campaign really is.

And just to refresh your memory, this campaign was started by a coalition of civil rights groups following the death of George Floyd. Back in July, they did call for an ad boycott of Facebook, and hundreds and hundreds of very high-profile companies, from Microsoft to Starbucks, did participate in that ad boycott. Now, if we think about today's campaign, I'm not sure a 24-hour boycott of Instagram and Facebook is going to enact any real tangible immediate changes at the company.

But what it is doing is adding that much more pressure on Facebook that has just been feeling the heat on all fronts recently. I'm sure we're going to get more boycotts, more call-outs as we near closer and closer to that 2020 election because one of the main goals of this group is to have Facebook censor political ads in order to prevent disinformation.

I did reach out to Facebook for comment. They said they have nothing to say at this time, but they did reference some of the responses that they have provided at the company to try and address these various issues, one of that being the fact that they will not be showing any political ads the week leading up to the election.

ZACK GUZMAN: Yeah.

ALEXANDRA CANAL: But according to this group, that's just simply not enough right now.

ZACK GUZMAN: Yeah, and we saw-- I mean, we saw Facebook under pressure, too, when that ad boycott for the month did happen earlier in the year. They rebounded past that. Showing a little weakness today, along with the other big tech names out there, as Facebook shares trade about 2 and 1/2% lower. But, Ally Canal, appreciate you bringing us all of that in today's Fame and Fortune.