More Than 1,000 Companies Boycotted Facebook and the damage affects the company more than its pocket

Reports revealed that the number of "Facebook" boycotts that decided to withdraw their ads from the platform exceeded 1,000, due to "Facebook" not dealing firmly with the increase in hate speech and misleading information.

The "New York Times" reported that more than a thousand companies (out of 9 million) publicly joined the "Facebook" boycott campaign organized by a number of associations defending the rights of minorities and immigrants under the name "Stop Hate for Profit" while other companies silently slashed their spending.

The spending rate of the largest 100 companies from the provinces decreased to 12% from last year, while the spending of 9 companies decreased from about 507.5 million dollars to 26.2 million dollars.

Several companies that have turned away from "Facebook" said they intend to return, knowing that many are small family businesses or individuals who rely on the platform to promote their products.

Mark Zuckerberg, Facebook CEO, pointed out that "the company will depend on small businesses and mid-sized companies", adding: "It seems that some people mistakenly assume that our work depends on a few large advertisers".

"Facebook" reported that the top 100 spenders contributed 16% of its revenue of $ 18.7 billion in the second quarter that ended on June 30. "Facebook" reported that during the first three weeks of July, total advertising revenue increased by 10% compared to last year, a rate the company expects to Continue for the full quarter.

Observers believe that the boycott campaign has had a longer "Facebook" reputation than its pocket and that what could really harm "Facebook" is the long-term impact of the campaign on its reputation as it will become linked in the eyes of the public with the spread of hate speech and other "inappropriate content".

Source: New York Times