Facebook has been plagued by negative publicity for the past couple of years but according to this article from AdAge, they don’t appear to be losing any advertising dollars. From all appearances, Facebook seems immune to issues resulting from high-profile hacks, Russian political interference, privacy issues, negative press, and more. Perhaps Facebook’s plethora of problems stems from their long-time motto: Move Fast, Break Things.
The lack of impact in advertising dollars to Facebook seems to fly in the face of a consumer society (primarily millennials) who value transparency and social responsibility. According to the AdAge article, many industry executives are urging caution and suggesting the tide might turn against Facebook if they can’t get a handle on their business.
I find the situation interesting, especially considering the fact that Facebook is now considered “old person social media” (at least according to my students). Perhaps the millennial desire for social responsibility won’t have an impact if advertisers aren’t focusing on that demographic.
As a side note, the article also talks about efforts made by a firm with ties to the Republican party that have tried to push lawmakers off of Facebook and onto Google and Apple. This can provide a good example for students of how the political/legal environment can potentially influence the business environment.