You may have noticed the news of the #StopHate4Profit Facebook boycott movement. Big companies boycott Facebook advertising to convince the social media giant to take advantage of people.
The campaign is based on Facebook’s wild hate speech, incitement, and misinformation and its policies are insufficient to address these issues.
Companies That Boycotted Facebook so far
Six civil rights organizations started the boycott by calling on major brands and other corporations to stop advertising ads on Facebook. The aim is to push the platform to correctly counter hate speech and misinformation.
So far, the boycott has already been declared by companies such as PayPal, Pepsi, BMW, HP, Doritos, Upwork, Dashlane, etc. These were joined by the Ben & Jerry ice cream Company, REI outdoor goods retailer and The Northern Face outdoor clothing store. The latest company which joined the boycott campaign stated as;
We are pausing our advertisement until Facebook creates an appropriate solution that makes us happy and compatible with what we did with Youtube and other partners
It is worth remembering that Verizon has only stopped advertising in July, which does not have any effect on Facebook.
In the meantime, Viber’s messaging app decided to cut all its links with Facebook in the wake of “its data violations and failure to combat violent rhetoric.”
But that’s not enough to damage the revenue for Facebook
The social media site appears to be unbuttered by the whole campaign, amid big company boycotting Facebook. And there’s a good reason not to sweat, which is the hideous reality, for a month, pulling Facebook ads would hurt its income barely.
It is not easy to threaten Facebook by stopping a few advertising revenues for a month or two. Last year, over its 8 million advertisers base Facebook received nearly $70 billion in ads.
And a handful of Facebook boycott brands will hardly put any impact on their revenues. In order to have a measurable effect on Facebook sales, you need at least hundreds, if not thousands, of advertisers.
The lack of a few revenue sources does not seem to affect Facebook very much. The Wall Street Journal discussed in an email to advertisers last weekend, Carolyn Everson (VP of Global business Group at Facebook) “we do not make policy changes tied to revenue pressure.” She also mentioned that “policies based on principles rather than business interests”.
Facebook has an interaction base of 2.60 billion users each month, and for each company to sell its goods this is pretty huge. This is also understandable that businesses are merely “pausing” advertisements for a short time, rather than actually breaking links to Facebook and voicing their disappointment.
Basically, the whole thing appears to be a way for businesses now to claim that they do not agree, nor do not agree, with what Facebook is doing.