Facebook believes that brands that boycott ads will soon return to Facebook

by Book Catalog

Major brands such as Coca-Cola and Unilever are boycotting Facebook and Instagram ads one after another, but Facebook's CEO Mark Zuckerberg replied to such a boycott ``The advertiser will soon return to Facebook It is reported that he thinks that he will come. While the boycott movement is spreading globally, it is unlikely that Facebook will be economically impacted by it.

Facebook frustrates advertisers as boycott over hate speech kicks off-Reuters
https://www.reuters.com/article/us-facebook-ads-boycott/facebook-frustrates-advertisers-as-boycott-over-hate-speech-kicks-off-idUSKBN2424GS

The Facebook ad boycott could pay off for companies more than advertising on Facebook-MarketWatch
https://www.marketwatch.com/story/the-facebook-ad-boycott-could-pay-off-for-companies-more-than-advertising-on-facebook-2020-07-01

``#StopHateForProfit'' (let's stop profiting from hate) campaign started by big brands boycotting Facebook advertisements, starting from Facebook not labeling SNS posts that suggest President Trump's violence It was. Large companies such as Coca-Cola and Unilever have joined the campaign one after another, and it has spread internationally, not only in the United States.

Facebook introduces a new policy for SNS censorship problem after stock price declines, but ``boycott Facebook'' movement does not stop-GIGAZINE

In its discussions with advertisers, Facebook acknowledges that it has a ' trust deficit .' However, while civil rights groups have pressured concrete steps to prevent hate speech, Facebook has so far failed to explain specific steps against boycotts and complains from advertisers.

On July 1, 2020, Facebook published an article in its newsroom called 'Facebook Does Not Benefit from Hate'.

Facebook Does Not Benefit from Hate-About Facebook
https://about.fb.com/news/2020/07/facebook-does-not-benefit-from-hate/

Nick Clegg, Facebook's Vice President of International Affairs and Communications, said about Facebook's zero-tolerance approach: ``If content contains malicious or descriptive language, then classify it as hate speech and remove it. ,' and 'if there is no classification into them, freedom of expression will take precedence.' In addition, Facebook rated 'malicious expressions' more quickly than YouTube and Twitter, and said it found and removed nearly 90% of hate speech before other people reported it. However, these explanations are reiterations of what Zuckerberg CEO had previously announced .

An executive at a major advertising agency told Reuters that Facebook was 'simply doing nothing' about the boycott issue.

In addition, The Information independently received information from Facebook employees that Zuckerberg believes that companies that boycott ads 'will soon be back on the platform.' This is because many companies have announced that the Facebook ad boycott is 'temporary' rather than 'permanent,' says Zuckerberg, who said that the boycott movement was not an economic issue. It is a matter of reputation and partner.'

In fact, in 2019, the advertising spend paid by Facebook's top 100 clients was just $60.0 billion, or just 6% of Facebook's total annual revenue. Facebook automatizes ad serving and adjusts prices to ensure overall revenue isn't down, and it's believed that boycotts are unlikely to hit Facebook financially.