Outdoor brands The North Face, Patagonia and Rei have pulled their advertising from Facebook platforms.
The Stop Hate For Profit campaign is calling on brands to join the boycott during the month of July.
The North Face said it was halting ads “until stricter policies are put in place to stop racist, violent or hateful content and misinformation from circulating on the platform.”
Facebook said it was committed to “advancing equity and racial justice”.
Patagonia said it would also be joining the boycott until “at least the end of July”.
Joseph Evans, head of tech at Enders Analysis, said Facebook was trying to both avoid further regulation from the US government, and maintain ad revenue.
“Facebook can weather a boycott by large companies better than any other media organisation out there, as so much of its revenue comes from smaller advertisers who are unlikely to band together to make political demands,” he said.
“However, right now, lots of those small advertisers are under pressure due to Covid-19 drying up their cashflow. So we could be seeing a perfect storm.
“What I expect to see is Facebook trying to walk a tightrope: interpreting its existing guidelines slightly more strictly, erring more on the side of taking down hate speech, but without much in the way of explicit policy changes that could provoke punitive regulations or get Mark Zuckerberg dragged before another Senate Committee.”