Meta platforms should stop offering it Ads based on users’ online behavior because they violate European privacy rules. I made this decision on October 27th European Data Protection Board at the request of the data protection authorities in the Netherlands and Norway. The decision was announced on Wednesday.
-Meta tracks what you post, click, or like on Facebook and Instagram and uses this information to deliver personalized ads. Aled Wolfsen, head of the Dutch Personal Data Protection Authority and vice-president of the EDPB, said that the improper processing of personal data of millions of people on Facebook is a business model for this company.
Meta has two weeks to phase out personalized ads
According to Wolfsen, the European regulator’s decision will mean that the privacy of users of Meta platforms will now be better protected.
The European headquarters of parent company Meta Platforms is based in Ireland and therefore The EDPB has instructed the country’s regulator to take necessary measures within two weeks to ensure compliance with the ban.
Last quarter, Meta Platforms posted an all-time high of $34.15 billion in revenue and $11.58 billion in net income, although its Metaverse division posted a loss of $3.7 billion. The company’s expenses decreased by 7 percent, including: thanks to reducing employment by a quarter.
Billions of dollars of advertising in Europe
More than 90 percent of Meta Platforms generates its revenue from ads on Facebook and Instagram. Last quarter, the company’s advertising revenue increased year over year from $27.24 to $33.64 billion. Almost half of it was generated in the USA and Canada (increasing from US$12.77 to US$14.95 billion), while it increased in percentage terms in Europe – from US$5.71 to US$7.72 billion.
This is mainly due to a 31% increase in ad views. Their average prices fell by 6%. While non-advertising revenues for the company’s platforms increased from $192 million to $293 million.
Facebook has 408 million active users at least once a month in Europe, the same number as the previous year. However, the global number of internet users using the platform increased year-on-year from 2.96 to 3.05 billion.
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