Meta Platforms Inc. will cease selling political and issue-focused advertising in the European Union starting in early October. This decision follows new regulations on transparency and targeting that limit how political messages can be directed at individuals. Previous engagements with policymakers did not prevent the finalization of the rules, which Meta argues remove popular products from the market. The ruling is part of ongoing conflicts with EU regulators concerning big tech data practices. While this move is significant, it is not expected to significantly affect Meta's overall revenue, as political ads are not a major revenue source for the company.
Meta Platforms Inc. will stop selling political and issue-focused advertising in the European Union, citing new regulations that the company believes creates an untenable level of complexity and legal uncertainty.
The company cited new rules on transparency and targeting of political advertising, which take effect in October and limit the data that can be used to aim political messages at individuals.
EU regulators have challenged Meta's plans to offer an ad-free version of its social networking services, and have fined the company almost 1 billion in the past 12 months.
It's unlikely the move on political ads will have a significant impact on Meta's business. Political advertising globally is not really a material contributor to the company's revenue growth.
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