Facebook splashed $20.1M in lobbying in 2021, making it the highest spender in the tech sector. That’s according to a data presentation by tradingplatforms.com.
Facebook’s expenditure also grew by 2% from its 2020 figures of $19.7M.
Likewise, the firm broke its record for the highest quarterly spend. Its Q4 2021 lobbying budget surpassed the $5.4M mark eclipsing its Q1 2020 high of $5.3M.
Other big spenders
Amazon took the second spot with an expenditure of $19.3M. This figure represented an 8% jump from its 2020 bill. The firm’s LD-2 listing reveals that it canvassed telehealth, EV charging, counterfeits, high-skilled immigration, and postal charges.
The Entertainment Software Association (ESA)recorded the largest leap in expenditures. It spent $6.7M in 2021, a 37% leap from its 2020 outlay. Meanwhile, Oracle and Qualcomm forked out $9.1M each in their pursuits. Their budgets swelled by 12% and 15% respectively from their 2020 levels.
The remaining GAFAM members spent a collective $26.2M. Microsoft’s costs rose by 8% to close at $10.2M. On the other hand, Google spent $9.5M, a 7% jump from the previous year’s spending.
Finally, Apple incurred the least by spending $6.5M, a drop of 3% from the previous year’s spending.
Facebook’s ballooning lobbying budget
Tradingplatforms.com’s Edith Reads links Facebook’s expenditure to the heightened scrutiny it’s facing.
She says, “Events surrounding the 2020 election have brought Facebook’s operations into question. Concerns about its data handling have many legislators and policymakers pondering increased scrutiny of the space. In turn, this has heightened spending on lobbying to get their voices heard.”
Most of Facebook’s lobbying sought to persuade lawmakers to shelve bipartisan bills targeting Silicon Valley’s questionable business practices. Besides privacy issues, it also pursued misinformation, AI, and election integrity.
The tech industry opposes the American Innovation and Choice Online Act. This legislation seeks to dissuade dominant firms from anti-competitive stances like discriminating against competitors.
The full story and statistics can be found here: Facebook’s $20M spend on lobbying is the highest in the tech industry