Facebook’s future keeps getting murkier
June 17: A coalition of nonprofits launched the #StopHateforProfit campaign, calling on major corporations to pause advertising on Facebook in July, citing the company’s “repeated failure to meaningfully address the vast proliferation of hate on its platforms.”
At the moment, Facebook has a clear problem on its hands, especially after anti-hate advocates were not pleased with Zuckerberg’s attempts to mollify their concerns. The ad boycott is unlike anything the platform has experienced in its recent history.
Still, whether the movement actually leads to long term change or a material impact on Facebook’s finances remains to be seen.
While the companies boycotting the company are highly visible and have deep pockets, most of Facebook’s ad revenue comes from small and medium-sized businesses, potentially insulating it from too much of a revenue shortfall from the boycott. And after the month long boycott period ends, some of the participating companies may be eager to get back to accessing Facebook’s billions of users and valuable trove of user data.
Even in the midst of the controversy, Facebook is finding new opportunities.