Facebook's largest brand campaign vows 'to do more to protect privacy' as it posts 50% Q1 revenue surge
Amid what is arguably the biggest crisis in its 14-year history, Facebook today (April 25) launched its largest-ever brand advertising campaign in the US, the same day it posted almost $12bn in revenue for the first quarter.
Despite the Cambridge Analytica scandal breaking towards the close of Q1, the social network was still able to report a 49% annual increase in total revenue, with ad spend up 50% year-over-year.
Mobile advertising revenue represented approximately 91% of advertising revenue for the first quarter of 2018. The platform also enjoyed a 13% increase in monthly active users (2.2 billion), plus daily active users (1.45 billion alike).
In a prepared statement, Mark Zuckerberg, Facebook's chief executive officer, described the opening quarter of 2018 as one where the business faced "important challenges."
He added: "We are taking a broader view of our responsibility and investing to make sure our services are used for good. But we also need to keep building new tools to help people connect, strengthen our communities, and bring the world closer together."
However, earlier in the day, the social network launched what is reported to be its largest-ever brand advertising campaign, where it apologizes for any offense caused by the recent revelations and vows to do more to protect users' safety and privacy (see video above).
This campaign began testing in Chicago in mid-March with the social network now scaling it across the US, with the campaign creative also vowing to tackle issues surrounding spam, click-bait, fake news in addition to data misuse.
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Cambridge Analytica is a British political consulting firm which combines data mining, data brokerage, and data analysis with strategic communication for the electoral process. It was started in 2013 as an offshoot of the SCL Group.The company is partly owned by the family of Robert Mercer, an American hedge-fund manager who supports many politically conservative causes.Find out more