Apple’s new privacy policy rips billions out of Facebook and Google profits

Facebook, YouTube, Snapchat and Twitter have collectively lost $ 9.85 billion after the introduction of Apple’s new privacy policy earlier this year.

Since the arrival of iOS 14.5 in April, users can choose which companies to follow to collect data. They can indicate this in their privacy settings.

In addition, companies must have explicit consent from the user to collect their data. The companies use this data to compile a profile of a person and to paint a picture of his or her interests. These profiles are often intended to serve targeted advertisements.

According to the Financial Times survey, Facebook has lost the most money compared to other platforms. This is due to the size of the platform, which had an average of 1.9 billion daily users in September. Facebook would have lost around 7 billion euros in profits in the past six months due to the new policy.

This is followed by Snapchat, because that company’s advertising is mainly tied to smartphones. This is because Snapchat does not have a desktop version of its app.

Twitter has been less affected by Apple’s policy, as the platform does not rely entirely on tracking software to create appropriate advertising. The damage has also been limited at Alphabet, the parent company of YouTube and Google. The company has user data from Google accounts and does not consider it necessary to track users in third-party apps, says Alphabet’s financial head Ruth Porat.

About the author: Mia Patel

Mia Patel is a investigative journalist with a passion for unveiling the truth behind complex security breaches. With a background in investigative reporting and a knack for meticulous research, Mia has a track record of exposing corporate misconduct, government cover-ups, and online scams.

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