Apple’s introduction of App Tracking Transparency hasn’t proven popular with social media platforms. The privacy shift has vaporized an estimated $9.85 billion of revenues for Facebook, Twitter, YouTube, and Snap, according to The Financial Times. The new policy, which launched in April, requires the social media platforms to gain permission from iPhone users before tracking them across other apps. Unsurprisingly, many of them have opted out, which has made ad targetting on social media less effective. As a result, advertisers have shifted their budgets to other sources — including Apple’s own expanding ads business. That’s conveniently beneficial to Apple, but rather concerning for social media firms…
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