Will the boycott campaign drown Facebook?

Big company likes Coca Cola, Microsoft, Hp boycott Advertisement on Social Media

Will the boycott campaign drown Facebook? The destructive movement of the late eighteenth century moved the British people to stop using the goods produced by slaves. The appeal of the movement became very effective. About 300,000 people stopped buying sugar. The fact that people stopped buying sugar created pressure to end slavery.

The “Stop Hate for Profit” campaign is the latest in a series where boycotts have been used as a political weapon.

The campaign alleges that Facebook has not done enough to remove racist and hateful content from its platform.

Many giant companies have joined the campaign and have stopped advertising on Facebook and other social media.

Companies including Ford, Adidas, HP, Coca-Cola, Unilever and Starbucks have recently joined the campaign.

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According to a news site called Bhashyak, even Microsoft stopped advertising on Facebook and Instagram in May. It is said that Microsoft has taken such a step by showing interest in the inappropriate content on the FB platform.

Meanwhile, platforms including Reddit and Twitch are taking anti-hate measures and putting pressure on big companies including FB.

Loss of trust

Will the boycott hurt Facebook? The short answer is yes. Because most of Facebook’s revenue comes from advertising. According to experts, losing trust and a growing sense of lack of dignity can wreak havoc on a business.

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Facebook’s share price fell 8 percent on Friday. As a result, the total wealth of the FB CEO fell by at least 6 billion pounds.

Such losses on the value of the company will continue to increase in the future. But will that have a long-term effect on Facebook’s very existence? That is not clear.

However, this is not the first time social media has been boycotted.

In 2017, various popular brands announced a boycott of YouTube. Companies have announced they will not run ads on YouTube, citing racist and violent videos.

However, that special boycott is now forgotten by many. YouTube and its parent company Google have revised their advertising policy.

The latest boycott for FB may be a loss. But the loss to FB may not be as high as expected.

This is because most of the companies that have announced to boycott FB have said that they will not advertise for the month of July only.

Will the boycott campaign drown Facebook?

And more importantly, FB earns most of its advertising revenue from tens of thousands of small and medium advertisers.

According to a report published by CNN last year, company earned Rs 4.20 billion last year from the top 100 most advertised brands. That’s just 6 percent of Facebook’s total advertising revenue.

In this case, unless the medium and small companies boycott FB, it will not have a big impact on Facebook’s revenue.

Similarly, there are many small companies in the world for which there is no alternative to Facebook’s platform for effective and accessible advertising. FB has become mandatory for companies that cannot pay expensive fees for advertisements through television and other media to advertise to the target group.

But it’s not that hard to make a difference on FB. Because of the ownership structure of the FB company, CEO Mark Zuckerberg is omnipotent. He can bring the desired change in the company. So if Zuckerberg is relieved by the pressure from companies, he can change the company’s policy.

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But if Zuckerberg did not come under pressure from the boycott companies, other shareholders would not be able to exert much pressure on him and influence the company’s decisions.

With the announcement last Friday that it would start tagging hateful content, FB has signaled a move towards purging its platform. But those changes are not enough to stifle the Stop Hate for Protein campaign.

This has been a year of ups and downs for social media companies. FB is no exception. The fact is that the revenue and profits of the companies are very important.

If the social boycott continues for a few more months and other companies participate, it will be a crucial year for social media networks.