However, #StopHateForProfit has little success - the platform still makes more profit in July
A good half of US marketers boycotted the social media giant Facebook in July. This is shown by a survey by Digiday . As part of the #StopHateForProfit campaign, companies such as the ice cream manufacturer Ben and Jerry's and the sporting goods company Adidas are refusing to continue paying for advertising space on the platform. According to the brands, Facebook is not doing enough to stop hate and hate speech on its platform.
Protest is more symbolic
Digiday conducted the survey among 104 media agency representatives. 56 percent of respondents say their customers no longer pay for advertising space on Facebook. However, this step is only symbolic for the agencies. 55 percent believe the boycott will not bring about meaningful changes.
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In fact, #StopHateForProfit barely damaged Facebook's profits. “Some people mistakenly assume that our business depends on a few larger advertisers,” said CEO Mark Zuckerberg. According to the group, profits grew by ten percent in July compared to the same period last year.
Brands are already returning
Although Facebook's reputation has suffered from various scandals in recent years, many marketers still can't get away from the platform. According to Digiday, 41 percent of brands will return to Facebook in August. Another 26 percent follow at the end of the third quarter and 13 percent wait until the end of the year.
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Source: press text
Article image: Shutterstock / By TY Lim
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