Twitter Inc will ban political advertising on its platform next month, the company’s chief executive Jack Dorsey said on Wednesday.
Jack made this known in a statement series of tweets on his official and verified twitter handle, stating that political message reach should be earned, not bought.
Analysts, according to Reuters, do not expect the ban, which takes effect on Nov. 22, to significantly reduce Twitter’s business. Its shares fell 1.9% in after-hours trading.
Social media companies, including Twitter rival Facebook Inc face growing pressure to stop carrying ads that spread false information that could steer elections across the election.
Facebook has pledged efforts to deal with misinformation, but Facebook made a decision to not fact-check ads run by politicians.
Earlier this month, Facebook CEO Mark Zuckerberg defended the company’s policy, saying it did not want to stifle political speech.
Dorsey wrote on Twitter that paying for ads forces “targeted political messages on people” with a power that “brings significant risks to politics, where it can be used to influence votes to affect the lives of millions.”
“We’ve made the decision to stop all political advertising on Twitter globally,” said Twitter CEO Jack Dorsey in a statement here “We believe political message reach should be earned, not bought.”
He added that it was not credible for Twitter to say it was trying to stop the spread of misleading information “but if someone pays us to target and force people to see their political ad…well…they can say whatever they want!”