Reuters Thilo Schmuelgen
Reports revealed that the number of Facebook boycotts that decided to withdraw their ads from the platform exceeded 1,000, due to Facebook not dealing firmly with the increase in hate speech and misinformation.
The New York Times reported that more than a thousand companies (out of 9 million) publicly joined the Facebook boycott campaign organized by a number of minority and immigrant rights groups called Stop Hate for Profit, “Stop hate for profit”, While other companies cut their spending silently.
The spending rate of the largest 100 companies from the provinces decreased to 12% from last year, while the spending of 9 companies decreased from about 507.5 million dollars to 26.2 million dollars.
Several companies that have turned away from Facebook said they intend to return, knowing that many are small family businesses or individuals who rely on the platform to promote their products.
Mark Zuckerberg, CEO of “Facebook” that the company will depend on small business and medium-sized companies, and added: “It seems that some mistakenly assume that our work depends on a few large advertisers.”
Facebook reported that the top 100 spenders contributed 16% of its revenue of $ 18.7 billion in the second quarter that ended June 30th. Facebook reported that during the first three weeks of July, total advertising revenue increased by 10% compared to last year, a rate that the company expects to continue for the full quarter.
Observers believe that the boycott campaign has had a longer “Facebook” reputation than its pocket, and that what could really harm “Facebook” is the long-term impact of the campaign on its reputation as it will become linked in the eyes of the public with the publication of “Hate speechAnd other “inappropriate content”.
Source: “New York Times”