on how social advertising would play out for the rest of the year, many industry executives told us they expected social spending to start a more sustained rise in Q3. But we predicted that the dim economic outlook in the US would cause ad spending of any sort to have a difficult time recovering.
Thus far, that's proving to be true for many industry categories, but we now think the impact on Facebook will be less than we predicted. To replace companies that have pulled back spending due to the pandemic or the ad boycott, Facebook has shown exceptional skill at attracting digitally native businesses to its platform, especially those that market products or services that can be used by people staying at home.
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