San Francisco: As hundreds of businesses suspend advertising on Facebook(FB) & Instagram, Its CEO Mark Zuckerberg is confident the brands would shortly repatriate on the platform.
As per a record in The Info, Zuckerberg informed employees he has been reluctant to bow to the threats of a growing ad boycott, informing “my guess is that all these advertisers going to be back on the platform shortly sufficient.”
“We’re not gonna alter our policies (or) reach on anything due to a danger to a small per cent of our revenue, (or) to any per cent of our revenue,” he apparently informed the employees, as per the record on Wed..
Of the 25 highest spenders on Facebook(FB) ads, only 3 businesses — Microsoft, Starbucks & Pfizer have affirmed pause ads on Facebook(FB).
As Facebook(FB) ad boycott by over 400 brands officially started on Wed., the social networking giant stated it has been getting best in deleting harmful content & that the platform doesn’t in any way profit from hate speech.
Writing an open letter to address issues of advertisers, Nick Clegg, Facebook(FB)’s Vice President of Global Affairs & Communications on Wed. stated that “platforms like Facebook(FB) hold up a mirror to community”.
“I need to be unambiguous: Facebook(FB) doesn’t profit from hate,” stated Clegg, who’s a previous Deputy PM of the United Kingdom.
The call to boycott ads on Facebook(FB) initiated after the social networking giant ruled to permit debatable posts by US President Donald Trump to stay up.
Facebook(FB) stated that when it locates hateful posts on Facebook(FB) & Instagram, it takes a zero tolerance reach & deletes them.
Facebook(FB) saw its market cap eroded in billions as extra big brands boycotted its platform over the unchecked spread of hateful & disinformation on its platforms.
American meal firm Chobani, drug maker Pfizer & software main SAP have been amongst the latest brands pulling who joined Coca Cola, adidas, cleansing supply company Clorox, Conagra (the maker of Slim Jim, Duncan Hines & Pam), fast meal chain Denny’s, Ford & Starbucks to pull their own ads from that platform.
Facebook(FB)’s digital advertising accounted for over 98 percent of the firm’s nearly $70 billion in revenue previous year.