Facebook increases revenue despite boycott

published 31.07.2020 05:01

“It was abundantly clear in our meeting that Mark Zuckerberg and the Facebook team is not yet ready to address the vitriolic hate on their platform,” a campaign statement said.

“We’re not going to change our policies or approach on anything because of a threat to a small per cent of our revenue, or to any per cent of our revenue,” Mr Zuckerberg reportedly told staff at a meeting as the boycott gained momentum.

The Stop Hate For Profit campaign had more than 1100 companies and corporations pause advertising on Facebook in an attempt to force Mr Zuckerberg to “address the effect that Facebook has had on our society”.

The high-profile advertising boycott that saw companies like Coca-Cola, Unilever and Lego pull ads off Facebook hasn’t impacted on company revenue, as earnings reveal an 11 per cent rise in the last quarter.

If you’re familiar with common economic rhetoric you’ll know the massive corporations that stopped advertising are not the “engine room” of the economy, and neither are they the engine room of Facebook’s targeted advertising machine that follows you everywhere you go on the internet and made the company $US18.3 billion ($A25.4 billion) in the past three months.

by Jack Gramenz from news.com.au

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