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Facebook’s ad revenue will continue to increase this year, despite the growing number of brands pulling ad campaigns amid the coronavirus pandemic. Net US digital ad revenues at Facebook (including all owned and operated properties as well as Facebook Audience Network) will increase by 4.9% this year to $31.43 billion – about $4.82 billion less than eMarketer predicted in early March.
Additionally, more brands are pulling ad spend from Facebook for the month of July in support of #StopHateForProfit, a campaign sponsored by nonprofits like the NAACP in protest of what they call Facebook’s failure to remove hate speech and misinformation from its platform. While these moves are unlikely to make a dent in Facebook’s ad business, the campaign’s potentially broad uptake could lead to more pressure from consumers in the future about companies’ ad spending practices.
Google may cut commission fees for sellers, attempting to compete with Amazon for ecommerce-related search dollarsSpotify officially rolls out video podcastsNews app usage is spiking in 2020, but will fall again next year
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