Mark Zuckerberg said Facebook makes a 'relatively small' amount from political advertising. The company has made $2.2 billion from political ads since mid-2018.
- During Wednesday's Senate hearing on Section 230,
- Both Zuckerberg and COO Sheryl Sandberg have long maintained that political ads are worth less than 1% of the firm's overall revenue.
- Since May 2018, almost 11 million ads pertaining to
politics, election, or social issues have run on the platform, amounting to $2.2 billion in ad spending.
Facebook CEO Mark Zuckerberg said the company makes a "relatively small" amount from political advertising, an aspect of its business that has brought in $2.2 billion in revenue since May 2018 according to the firm's own data.
The comment was made during a virtual Senate hearing on Wednesday, an event that was scheduled for lawmakers to grill Google, Facebook, and Twitter's execs over Section 230 and the protections
The company has implemented a political ad ban ahead of the election, blocking any candidates from running new ads in the week before the election. It has also said it will block any political ads for an indefinite amount of time after November 3, and in late September said it would ban ads that prematurely declare victory. The policies have resulted in advertisers creating ads to be approved in Facebook's ad library and promoted at a later date.Zuckerberg, as well as COO Sheryl Sandberg, has maintained that its political ads are worth less than 1% of the firm's overall revenue. Sandberg told Bloomberg in late 2019 that its political ad money "is not worth the controversy." "We're not doing it because of the money," she told the outlet.
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