Facebook advertising boycott results...
Inner Sircle3 Elo 2020

Facebook advertising boycott results...

Now that August is here a clearer picture of July’s #StopHateForProfit movement, in which 1,000+ brands including Unilever, The North Face, Heineken, and Chipotle staged a public advertising boycott of Facebook, is coming into focus.

It's just a flesh wound

On its earnings call Thursday, Facebook said ad revenue grew 10% annually in the first three weeks of July. Zuck said, “some seem to wrongly assume that our business is dependent on a few large advertisers.”

  • Some numbers: Throughout most of July in 2019, the top 100 advertisers on FB spent $251.4 million. In 2020, that number was 12% lower, according to data from Pathmatics.
  • Some perspective: Facebook raked in $18.7 billion—with a “B”—in revenue in Q2. The top 100 spenders contributed 16% of those sales.

Bottom line: The leaders of the boycott said it won’t formally continue past July because of the strain it puts on businesses that rely on the platform for marketing. But the movement as a whole “will get bigger and broader” until they feel Facebook takes meaningful action “to mitigate the damage it causes.

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