New iOS security feature costs social networking platforms $10 billion

According to a report by The Financial Times, social networking platforms Snapchat, Facebook, Twitter and YouTube have suffered about $9.85 billion in losses due to a new iOS security feature that prevents users from being tracked to serve ads. fox. Last year, Apple changed its App Tracking Transparency policy, making it necessary for social networking apps to ask permission from users to be able to track personal data.

Facebook has criticized this change of Apple extremely harshly, now the Financial Times report tells us why Facebook is so afraid of Apple’s new policy.

The Financial Times said Facebook suffered the heaviest loss in advertising revenue. While Snap suffered the most loss as a percentage of its revenue, that was because Snap’s ads were mostly on smartphones.

Analyst and consultant Eric Seufert told the Financial Times: “A lot of social media platforms were affected, but most especially Facebook, they had to rebuild their machinery from the ground up. I believe it will take them more than a year to build the new infrastructure. These tools need to be redeveloped from the ground up and tested before being rolled out to the majority of users.”

Apple’s new privacy policy causes social networking platforms to find a whole new way to advertise on iOS.

Reference: theverge