Large international advertisers are fleeing the Facebook platform in light of the Black Lives Matter and the Stop Hate for Profit movements. While the impact on Facebook has been significant in terms of advertising dollars, it’s doubtful large companies will abandon the platform altogether.
That’s according to Terry Hussey of Vigilant Management, who is skeptical about the reason why big advertisers are leaving Facebook.
He says a lot of corporations were about to slash their advertising budgets anyway due to the economic devastation wrought by COVID-19.
Josh Taylor of txtsquad says larger advertisers leaving the platform is good news for smaller and medium-sized businesses that rely on social media to serve their customer base, but he doesn’t believe the big advertisers can skip Facebook completely. He says while there are some real challenges related to the social media platform, he calls it a “workhorse” that has defied predictions that it is on the way out.
