Statista.com reports that Facebook has 2.6 billion monthly active users as of the first quarter of 2020. Instagram hosts more than one billion users every month according to Oberlo.com. Both platforms are famous and millions of businesses take advantage of their tremendous user base.
All types of people use Facebook, Twitter, Instagram, and are free to share their political views. Some people use these channels to speak against others and thus they spread hate. This and similar usage of social media have always been criticized. Recently, large corporations started ad boycott. Why?
This article explains why large companies started the boycott of Facebook and Instagram advertising. The future of these advertising platforms will also be discussed. Continue reading if you want to know to promote your products or services on Facebook and Instagram. Do you know people even search for “i need more instagram likes“
Some Details About Facebook Boycott
Advertisers are unhappy with Facebook’s handling of misinformation and hate speech. Recent posts from President Trump about riots added fuel to fire. Facebook is seeing a growing boycott by large corporations and this boycott costs Facebook in billions.
The movement to boycott social media joints was going on for some time and many people and organizations joined this movement. By the end of June, the movement gained traction as more than one hundred large corporations joined the movement. Check more on amazon.com.
For organizations of all sizes, it was a time to show respect to equality and inclusion. Global organizations were on the forefronts because they are serving people from various regions, beliefs, ethnicities, and races. Facebook is taking steps in this regard.
Future of Facebook & Instagram Ads
There are more than 8 million businesses and individuals that advertise on Facebook. Besides more than 100 large corporations, a large number of small and medium-sized businesses also boycotted Facebook advertising. Many large companies that spend millions on Instagram and Facebook every year have also distanced themselves.
At the same time, a large number of businesses did not hat advertising at all. So Facebook is still earning through ads. The boycott will stop soon and the Facebook will be back in business again. Obviously, this boycott will not stay for a long time.
The future is bright for Facebook and Instagram ads because advertising on these two platforms has been growing at an astounding pace. Facebook intends to monetize WhatsApp in 2020 and it is going to be another hit. Facebook will be stronger at the dawn of 2021.
What Does Social Media Need to Do?
The boycott will stop soon because cannot stay for a long time as businesses have to start their promotions. Lockdowns have already caused huge losses to businesses. However, Facebook should implement features that discourage hate speech.
According to Facebook, they have been spending billions every year to keep Facebook safe and useful for most people. There are people that have been using it for illegal and unethical activities. Facebook has always been struggling with unlawful and illegal activities.
Now Facebook is more conscious and takes more practical steps to safeguard all users’ interests. Surely, Facebook is not in a situation to face another such boycott. They will now take hate speech seriously and take practical steps to curb any such activities.
The success of the advertising program defines the success of Facebook. That is why their income generation methods are important for Facebook. The value of Facebook’s stock has also decreased due to the setbacks of the advertising program.
The Way Forward for Facebook & Instagram
You have read about the boycott of Facebook advertising by large corporations. It is clear from the above discussion that this recent boycott was a huge lesson for Facebook. It is time for social media giants to do something about hate speech.
The founder and CEO of Facebook Mark Zuckerberg have aimed at taking practical steps about hate speech filtering. Facebook’s revenues for the year 2020 will drop as its biggest advertisers have stopped advertising for a significant amount of time.
In the end, we can say that we should use the internet and social media to spread positive ideas. We should not call a group of people bad based on our bad experiences. On the other hand, social media should not be politicized. It should be used to connect with friends and family.