Our Social Media Dilemma
What is the age restriction for social media?
Answer: 13 years old
Almost one third of girls aged between 13 and 15 use social media for five or more hours every day (Source: Millennium cohort study, University of Glasgow).
The tragic death of 14-year-old Molly Russell and the verdict that both Meta and Pinterest contributed "more than minimally" to the teenager’s suicide should send shockwaves through Silicon Valley. The NSPCC said this was a “watershed moment” and Prince William stated, “Online safety for our children and young people needs to be a prerequisite, not an afterthought."
The Social Dilemma has been bubbling away for many years. Yes, social media is a revolutionary global connecter. However, the advancement in both AI and computer processing has produced algorithms (recipes) for disaster as machine learnings manipulate, divide, control, polarise, distract, and of course monetise us. By 2028 social media ad spend will more than double to $262 billion (Source: Statista).
Meta & Pinterest have made statements that they are working hard to improve their platforms and will listen carefully to the coroner’s statement.
What is completely illogical is when Meta and Pinterest had their own Terms & Conditions read out to their executives, at the inquest, they simply did not apply to the kind of content that Molly was allowed to see.
Baroness Kidron, OBE, is a Crossbench Peer in the House of Lords and advocate for children’s rights in the digital world. She is demanding the creation of robust systems, both within tech companies to monitor their own terms & conditions, and also externally enforced by the likes of OFCOM and government legislation.
So, what is the UK Government doing regarding the Online Safety Bill? Its 3rd parliamentary round is in December, needing to be passed by May next year or it will fail.
Meta’s market valuation is at its lowest since early 2019, and the stock is one of the worst performers this year in the S&P 500. In 2021, Meta generated $114 billion in revenues and Pinterest $2.1 billion. The former accounts for 15% of the entire global ad spend. (Source: Statista).
The global advertising industry must make a stand against such apathy. If you’re a brand either buying directly or employ a media/digital agency to invest your marketing spend, you must ensure you are investing with media companies that have purpose and values that align with your own.
The consensus Environmental, Social, and Governance ratings (ESG chart below), over a 12 month period for one of the biggest social media companies, highlights their low scores across Human Rights, Diversity Rights, Community Development, and the Product it produces.
Think about a brand that you represent. With good conscience can you justify investing so much with a company, vetted by hundreds of global ESG analysts, that delivers poor scores?
Only through our advertising investment decisions and lobbying our government for systematic online safety legislation will our demands as a conscientious industry enforce necessary change that protects our children.
