Boycott, schmoycott.
Despite over 1,000 major advertisers participating in a July advertising boycott over the way Facebook handles hateful content, the company said in its Q2 2020 earnings report that its advertising business is doing fine and dandy.
Last quarter, Facebook made $18.3 billion in advertising revenue, which blew past investor expectations. While the company didn’t give numbers for July (when the boycott began), it said its ad revenue growth rate for the first three weeks of July tracked with the rest of its 2020 year-over-year ad revenue growth rate of 10%. Meaning, despite companies from Ben & Jerry’s to Unilever pulling their advertising dollars, things are basically the same for Facebook’s bottom line, and Facebook expects it to stay that way. Read more…
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