Over 1,000 companies boycotted Facebook. Did it work?

Major advertisers cut spending by millions of dollars in July, but not enough to significantly damage the platform's revenue

The advertiser boycott of Facebook took a toll on the social media giant, but it may have caused more damage to the company’s reputation than to its bottom line.

The boycott, called #StopHateForProfit by the civil rights groups that organised it, urged companies to stop paying for ads on Facebook in July to protest the platform’s handling of hate speech and misinformation. More than 1,000 advertisers publicly joined, out of a total pool of more than 9 million, while others quietly scaled back their spending.

The 100 advertisers that spent the most on Facebook in the first half of the year spent