Story at a glance

  • Zuckerberg reportedly told employees he doesn’t plan to change the social network’s approach due to a threat to a smaller percent of its revenue.
  • “My guess is that all these advertisers will be back on the platform soon enough,” he said, explaining that the boycott is more of a public relations issue than one that will affect the social media giant’s bottom line.
  • More than 500 companies, including Coca-Cola, Pfizer, Ford, Starbucks and Verizon have yanked ads from the site as part of the “Stop Hate for Profit” boycott.

Even as hundreds of companies have pledged to stop advertising on Facebook and Instagram as part of a month-long protest against the social media company’s handling of hate speech and misinformation, Facebook CEO Mark Zuckerberg appears to have no intention of changing the company’s position. 

“We’re not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue,” The Information reports Zuckerberg told employees during a virtual town hall Friday. 


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“My guess is that all these advertisers will be back on the platform soon enough,” he said, explaining that the boycott is more of a public relations issue than one that will affect the social media giant’s bottom line. 

Civil rights groups in recent weeks have called for advertisers to boycott Facebook over the company’s alleged inability to rein in hate speech, threats of violence and misinformation on the social media site. 

More than 500 companies, including Coca-Cola, Pfizer, Ford, Starbucks and Verizon have yanked ads from the site as part of the “Stop Hate for Profit” boycott. 

Most of Facebook’s top 100 advertisers, including Walmart, American Express and Home Depot have not joined the boycott, according to a CNN Business analysis. Out of the 25 biggest advertisers on Facebook, only three — Microsoft, Starbucks and Pfizer — have publicly announced pledges to stop marketing on the platform. Those 25 advertisers spend about $2 billion, or about 3 percent of Facebook’s 2019 revenues.

The social network confirmed the reported comments are accurate and announced its chief executive is set to meet with organizers of the boycott. 

Published on Jul 02, 2020