There is nothing that's stopping the advertisers now from continuously boycotting Facebook as their way of holding the social network company accountably for failures to put a fang with its policy, a rare moment of discomfort for a company that is widely recognized in the world, Tech Crunch reports.
The campaign from advertisers, hashtagged #StopHateForProfit, continues to spread even in other corporations to give up their ads on Facebook. Mark Zuckerberg, Sheryl Sandberg, and the returning chief product officer, Chris Cox met with the campaign leaders on Tuesday.
What is there to worry about if there are meetings of this kind being held? The meeting reportedly lasted for over an hour.
Also Read: Facebook Ad Boycott: Brands Pulling Ads From Facebook Over Hate Speech
Facebook revenue
However, Facebook CEO Mark Zuckerberg and his team seem to be shrugging on these reactions from the meeting, and one of the reasons probably is the revenue that it actually gets from the advertisers.
In the chart published on Zero Hedge, it revealed that the ad boycotts are just a fraction of the total revenue that the social networking company obtains. Most of its profits come from global sources in 2019.
"While large companies boycotting Facebook attract news headlines, these numbers show that they have very little impact on the company's overall advertising revenue," the Zero Hedge story pointed out.
Showing disappointment
"Today, we saw little and heard just about nothing."
This was from Jonathan Greenblatt, CEO of the Anti-Defamation League.
He also expressed dismay over Facebook's failure to implement "urgency and agency" upon issues which include misinformation and hate upon its Internet-based platform. It could be remembered that it went mum over the Trump posts connecting to the racial injustice campaigns.
France's president seen in talks with the CEO of the world's biggest social networking platform.
Meanwhile, Rashad Robinson from Color of Change even criticized Facebook for "expecting an A for attendance" when it participated in the meet. Jessica J. González, co-chief executive officer at Free Press also was dismayed over the meeting's outcomes. Derrick Johnson of NAACP was not happy about it as well.
The CEO of the National Association for the Advancement of Colored People added that Zuckerberg seems to be more interested in these dialogues than taking action.
Also Read: The North Face Is Biggest Brand Yet to Join Facebook Ad Boycott
Zuckerberg answers
The CEO has not officially commented on these reactions regarding the recent meeting. Even his official account does not have a statement posted, except for the July 4 greeting.
The #StopHateForProfit drive is a campaign that calls for various corporations to, in the meantime, stop advertising on the platform and their acquisition, Instagram, for this month, due to policy decisions and the recent what seemed to be a support for U.S. President Donald Trump with regards to his posts on racial justice.
"Facebook is a company of incredible resources," the organizers of the boycott initiative exclaimed. "We hope that they finally understand that society wants them to put more of those resources into doing the hard work of transforming the potential of the largest communication platform in human history into a force for good."
This is led by companies and organizations including ADL, Sleeping Giants, the NAACP, Color of Change, and even tech giant Mozilla. Among the brands that have followed suit are Starbucks, Coca-Cola, Verizon, and Ford. Outdoor brand North Face also participated in the campaign.
