The latest reports recently revealed that Apple’s changes to the privacy policy settings for iPhones have caused a loss of about $9.85 billion in revenue for Snapchat, Facebook, Twitter and YouTube, after the new rules affected the advertising business.
Last year, the company announced Camel About the Application Tracking Transparency (ATT) policy that requires apps to request permission to track user data. The policy took effect in April, and banned apps from tracking users if they opted out.
The impact of Apple’s policy to track apps on social media platforms
According to the report, Facebook’s financial loss was the largest in absolute terms compared to other social platforms due to its sheer size. Meanwhile, Snapchat has fared the worst of its advertising business because its ads are primarily related to smartphones, which makes sense for a product that doesn’t have a desktop version.
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“Some of the platforms most affected – especially Facebook – have to rebuild their hardware from scratch as a result of Apple’s ATT policy,” Eric Seuvert, an IT consultant, told the Financial Times. “I think it takes at least one year to build a new infrastructure. New tools and frameworks must be developed from scratch and tested extensively before being rolled out to a large number of users.”
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Apple’s policy to track new apps on social platforms and other apps will force it to get more creative with its advertising. Whether that means focusing on Android devices or investing in Apple’s advertising business that nearly broke its own rules by collecting user data in the same way third-party apps did, they’ll have to figure out another source of revenue that doesn’t include tracking people on their iPhones.
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