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Apple’s app tracking transparency policy reportedly generated nearly $ 10 billion in revenue for social media giants

Apple officially introduced the App Tracking Transparency (ATT) feature in April of this year, giving iPhone owners more control over their data. Unfortunately, this step has caused a drop in revenue for some social media companies, and thorough research claims that the decision cost nearly $ 10 billion. Among many social media companies, Facebook used full-size newspaper ads to criticize Apple’s app tracking transparency

According to The Financial Times, social media companies such as Facebook, Twitter, YouTube, and Snap have hit $ 9.85 billion in revenue as a result of Apple’s launch of the App Tracking Transparency feature. Due to its size compared to other social media companies, Facebook reportedly lost the most “absolutely” money, which could be around $ 8 billion, but Snap Was the worst victim of measuring company percentages.

Since Snap doesn’t have a desktop application and is built specifically for smartphones, it would make perfect sense for them to hurt from Apple’s decision. Ad: tech consultant Eric Sfeld told the Financial Times that many social media platforms need to be rebuilt from scratch as a result of ATT. “Some of the most affected platforms, especially Facebook, need to rebuild their machines from scratch as a result of ATT. In my opinion, it will take at least a year to build a new infrastructure. New tools and frameworks need to be developed from scratch and extensively tested before being deployed to a large number of users. “ If you’re not sure how Apple’s App Tracking Transparency works, you’ll need iOS 14.5 or later to view it on your iPhone. When this feature becomes available, your app will need to ask your users for permission to track targeted ad activity. As you can see from the numbers above, many users may have opted out of tracking.

Meanwhile, Apple’s advertising revenue for California-based giants reached $ 18.3 billion in the previous quarter, a $ 700 million difference from the previous quarter. Also, assuming these social media companies don’t change the way users are tracked, Apple’s App Tracking Transparency could cost these giants even more in the coming quarters.

News source: Financial Times

https://wccftech.com/apple-app-tracking-transparency-policy-cost-social-media-companies-10-billion-revenue/ Apple’s app tracking transparency policy reportedly generated nearly $ 10 billion in revenue for social media giants

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