App Tracking Transparency has hit social media with a $ 10 billion revenue loss so far

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Apple’s privacy protection has cost social media companies a lot, and advertising revenue on Facebook, Twitter, Snap, and YouTube fell by about $ 10 billion in the second half of 2021 due to the App Tracking Transparency feature on iOS.

With the introduction of App Tracking Transparency in April, users have the option of tracking the app online or preserving the privacy of their heirs. Six months later, ATT seems to be hitting the revenues of major social media companies.

Facebook, YouTube, Twitter and Snap revenues fell 12% in the third and fourth quarters to a total of $ 9.85 billion, according to advertising technology company Lotame, who told the Financial Times.

Of the four companies, Facebook had the largest overall decline due to its large advertising market, with losses estimated to exceed $ 8 billion. However, because Snap focuses on smartphones, it has the worst percentage results.

Revenue decline is a continuation of early findings shortly after the introduction of ATT. In July, ATT was thought to reduce iOS advertiser revenue by 15% to 20%.

According to Lotame COO Mike Woosley, most people opt out of tracking social apps, resulting in reduced results when advertisers advertise to iPhone users.

In one example, a men’s underwear brand previously won one customer for $ 5 in advertising for 1,000 men. According to Oozeley, “To get 1,000 men, you have to show them to 2,000, because suddenly you don’t know who is a man and who is a woman.”

As a result, Woosley said, “The acquisition cost will be doubled and the lost yield will be 50%.”

Loss of tracking has forced businesses to work on advertising systems to address privacy-centric ideas. According to ad: tech consultant Eric Seufert, new tools and frameworks “need to be developed from scratch and extensively tested before being deployed to a large number of users,” which can take a year to be created.

In response to Apple’s changes, Facebook CFO David Wehner said ATT was “challenging” and “a little more destructive than expected. Alphabet needs to track users across third-party apps. We have more than enough first-party data and are isolated from its effects.

Meanwhile, Apple helped improve its advertising business and help its service grow to $ 18.3 billion in the previous quarter. The increase in advertising revenue has prompted Apple to call for hypocrisy.

“This is not altruistic,” said Cory Munchbach, COO of BlueConic. “Apple did a great job turning privacy into PR play, but without the money they wouldn’t have done this.”

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