Facebook’s ad boycott gains steam
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Facebook faces a growing boycott by advertisers unhappy with its handling of hate speech and misinformation. The rising tally is creating peer pressure on other brands to join the boycott
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Facebook market capitalisation ($ billions)

700
650
600
550
500
450
400
     JAN FEB MAR APR MAY JUN

Jun 23: 690.17 
Jan 29: 636.43 
May 22: 669.73
Mar 16: 416.27
Jun 29: 628.63

Apr 29: Facebook reports first quarter revenue of $17.74bn, including $17.44bn from advertising

Jun 29: Facebook shares rally slightly. Fall in stock price wipes out $61.54bn in market value since June 23

Jan 30: WHO declares public health emergency over coronavirus

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Companies limiting advertising (Ad spending in U.S., 2019, $ billions*)

Starbucks 94.9
Best Buy 29.0
REI 22.5
Patagonia 6.2
Levi Strauss 2.8
Pfizer 54.0
HP 24.7
Coca Cola 22.1
Honda Am. 6.0
Puma 2.1
Unilever 42.4
Diageo 22.9
Adidas 12.4
Madewell 3.5
ConAgra 2.0
Hershey’s 36.5 
Verizon 22.9 
Clorox Co. 8.9
The North Face 3.3
Lululemon 1.6 


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Sources: Bloomberg, Facebook, Macrotrends *Estimates by Pathmatics © GRAPHIC NEWS