Good morning, Marketer, let’s get to it!
EU regulators have ruled Facebook (can’t bring myself to call it Meta) must pay a $414 million fine for violating privacy laws. The bad news for Mr. Zuckerberg’s company: That’s the good news. The worse news: FB can no longer use people’s data to target behavioral advertising on the site, in Europe at least.
The social media giant has three months to say how it will comply. That may mean letting users opt out of advertising, a move which the WSJ said “could hurt its core business.” Ya think? Analysts say the best case scenario is a loss of 5% to 10% of overall ad revenue.
There’s a lot of litigation ahead, so it will likely be years before all the dust settles. But, right now, it’s another hit on a company already dealing with falling revenues and a plummeting stock price.
Constantine von Hoffman,
Managing Editor
