Another major advertiser (Unilever) has threatened to pull advertising $ from Facebook/Google, but does it matter?
Last year. Proctor and Gamble announced the same thing and eventually reduced their spend by ≈ $140M.
Drop in the bucket. Since the P&G announcement Google grew their ad revenues by 20% or $16B! The revenue that P&G pulled from Google accounted for 0.15% of their total ad revenue.
Google ad revenue by year:
1) 2016 — $79.4B
2) 2017 — $95.4B
How is this possible? Scale!
Advertisers on Facebook by year (% growth):
2) 2017–5M (↑ 67%)
The major platforms are able to grow revenue despite losing marquee clients such as P&G.