Coke et al dump Facebook. So what? It’s not their ‘likes’ that matter
The ad boycott won’t hurt because it’s a ‘long tail’ of smaller advertisers that drives most of Facebook’s sales
An advertising boycott of Facebook has attracted some of the world’s biggest brands, and even members of the British royal family.
Almost 200 companies have pledged to stop advertising spending on the social network. The campaign, led by “Stop Hate for Profit”, is pushing for hate speech to be removed from the site and has gained the private backing of the Duke and Duchess of Sussex. The biggest advertisers joining the boycott accounted for just under $245m (R4.2bn) in Facebook advertising in 2019, according to analyst firm Pathmatics.
Last week, it gained significant momentum as Unilever, Coca-Cola and Verizon said they would cut social media advertising. Over the weekend, drinks giant Diageo and Starbucks joined the boycott, and on Tuesday the wave continued, as Microsoft, Ford, Adidas and Reebok were added to the list of companies pausing spending on Facebook...