Facebook’s value questioned as scandals mount

Facebook has suffered a near non-stop drip of bad news in 2018, and with each event advertisers have barely uttered a peep while continuing to spend.

But this week, with yet another revelation about the company’s past data practices, one agency chief finally said enough is enough, while other ad agency senior executives say they are questioning how much consumers continue to trust Facebook and whether advertisements on the social network continue to be effective.

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On Wednesday, Mat Baxter, the global CEO of ad agency Initiative, said in a post on LinkedIn that he was advising clients not to advertise on Facebook.
“It’s about time we take a collective stand against the egregious behavior of Facebook,” Baxter wrote.

Baxter, who has head of Initiative oversees media buying and planning for Amazon, wrote that Facebook would need to feel pressure from advertisers to act.

“Hopefully, when they feel the pain of lost advertising dollars things might just change,” he wrote.

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