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July 6, 2020
Verizon's decision to join the growing boycott against Facebook and Twitter risks hurting the social media giants where it hurts most: their advertising revenue.
Advertising accounts for nearly all Facebook's $70.7 billion annual revenue, and a similar share of Twitter's $3.46 billion. Both already faced declining ad spending as big advertisers like Ford and Coca-Cola cut their budgets amid the pandemic and recession.
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