![]() ![]() “If your ability to advertise on Facebook is no longer economic, you’re going to move away immediately,” he said. ImpactĪidan Corbett, co-founder and CEO of growing Irish e-commerce financing platform Wayflyer, told the Financial Times that Facebook has the most to lose in this scenario because of the high cost of advertising on its platform, one that has been growing for years. This has led to many ad companies focusing on Android devices or Apple’s own ad services, according to the Financial Times. With many users opting out of IDFA, advertisers on Facebook, Snap, Twitter and YouTube are in the dark about how to target users and get the most bang for their buck. The new measure requires apps to explicitly ask users to turn on data collection capabilities, which prevents advertisers from tracking iOS users without their consent. IDFA is used by developers to monitor how ads are performing and to target ads at users. It turned off IDFA, or identifier for advertisers, by default. Lotame estimated that the four social media giants lost around 12pc of their revenue in recent quarters, or $9.85bn, with Facebook losing the most in absolute terms and Snap losing the most as a percentage of its business.ĭubbed App Tracking Transparency, or ATT, the feature was first rolled out by Apple in April as an iOS 14.5 update. The revenue loss figure was from US adtech Lotame and reported by the Financial Times. “The changes are not only negatively affecting our business, but millions of small businesses in what is already a difficult time for them in the economy,” Zuckerberg told shareholders last week while reporting the third-quarter earnings of Facebook, now called Meta. ![]() The changes, which allow users to prevent apps from collecting their data on iPhones and other iOS devices, has caused a rift between Facebook and Apple since it was rolled out. ![]() ![]() CEO Evan Spiegel said the iPhone had hit advertising more than the company expected.Facebook, Snapchat, Twitter and YouTube have all been impacted by the iOS privacy update rolled out in April.Ĭhanges to the privacy settings on Apple’s iOS devices have reportedly cost Facebook, Snapchat, Twitter and YouTube an estimated $9.85bn in revenue since being rolled out earlier this year. In October, shares in Snap fell 22 per cent following a disappointing third quarter, which it partly put down to Apple's new privacy policy. The research estimates that these four social media companies faced a 12 per cent fall in ad revenue over two quarters, equivalent to around $9.85bn. Twitter's machine learning algorithms amplify tweets from right-wing politicians over those on the left.Facebook's greatest misses: The five nastiest bits from recent leaks.Now a shareholder lawsuit lands on Zuckerberg's desk Zuckerberg wants to create a make-believe world in which you can hide from all the damage Facebook has done.The study, reported in the Financial Times, says most users have decided to opt out, taking data away from advertisers, which have in turn reduced their spending with Snap, Facebook, Twitter, and YouTube and moved to other platforms, including Apple's own advertising business. New calculations from advertising technology specialist Lotame suggest that the result has been non-trivial in terms of what social networks can charge advertisers for connecting them with their many billions of users. ![]()
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