Advertisers' boycott of Facebook to end 'soon enough' says CEO Mark Zuckerberg

Facebook CEO Mark Zuckerberg is not ready to back down and has hit back on the brands boycotting Facebook by dropping their advertisements.

"My guess is that all these advertisers will be back on the platform soon enough" the Facebook chief executive has said.

The social media platform has been accused by advertisers of being reluctant and slow to remove some hateful content.

Zuckerberg sees this boycott as a PR stunt by big brands rather than serious step and is not planning any major response.

"We’re not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue,” he said in an interview.

He said the boycott is a "reputational and partner issue" and the advertisers should be back "soon enough".

The statement was confirmed by a Facebook spokesperson who said "We take these matters very seriously and respect the feedback from our partners. We’re making real progress keeping hate speech off our platform, and we don’t benefit from this kind of content. But as we’ve said, we make policy changes based on principles, not revenue pressures."

On Wednesday, 500 brands including Starbucks, Coca-Cola, Ford and several others announced the boycott.

Since the current boycott is nothing like what Facebook has ever faced before, Zuckerberg has agreed to meet the advertisers next week.

After weeks of protest against racial injustice, several big brands came together for the very first time against hate speech on Facebook by targeting it's $70 billion in annual ad revenue.