As Advertisers Leave Facebook, Disney Could Benefit
Facebook (NASDAQ: FB) is already facing headwinds from reduced advertising budgets because the COVID-19 pandemic is causing businesses to reduce expenses. Now, large public companies have started announcing that they will stop paid marketing efforts on Facebook in support of the Stop Hate for Profit campaign.
Although most of Facebook's sales come from small businesses, the social media giant generates a quarter of its annual revenue from big corporations. Some of these major brands, such as Coca Cola and Starbucks, said they would stop advertising on all social media sites, not just Facebook. That raises a question: Could Disney (NYSE: DIS) profit from the changing landscape?
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Source Fool.com
