Last Updated on 22/11/2021 by Sanskriti
As a result of Apple’s iOS privacy changes, tech forms like Snapchat, Instagram, Facebook, and Youtube have spent nearly $9.85 billion in revenue, as investigated and revealed by Financial Times.
According to Lotame, a business that specializes in advertising technology, the four social media platforms lost 12% of their income in the third and fourth quarters. This comes after the new iOS App Store policy mandated that developers seek permission to follow users’ data across multiple apps and websites.
In April, the regulation went into force, prohibiting applications from monitoring users who opt-out. “Unless you (app developers) receive permission from the user to enable tracking, the device’s advertising identifier value will be all zeros and you may not track them,” Apple told app store developers in a statement.
It was stated by Facebook’s Chief Operating Officer Sheryl Sandberg, stated that the improvements in iOS 14 that benefited Apple’s own advertising business had the most influence on them. “One is that the accuracy of our ads targeting decreased, which increased the cost of driving outcomes for our advertisers. And the other is that measuring those outcomes became more difficult.”According to a story published by The Information, the new regulation will affect less than 5% of Facebook’s $84 billion in yearly ad income.
Adtech consultant Eric Seufert said, “Some of the platforms that were most impacted — but especially Facebook — have to rebuild their machinery from scratch as a result of ATT.”