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“We started to see that impact in Q2, but adoption on the consumer side ramped up by late June, so it hit critical mass in Q3,” she said. In Facebook’s third-quarter earnings report earlier this week, Facebook’s chief operating officer, Sheryl Sandberg, detailed several challenges caused by Apple’s new policy. Social media companies are still feeling the sting. In all likelihood, its troubles are only going to get worse moving forward as advertisers transition to business models that take these kinds of user privacy measures into account. Adtech consultant Eric Seufert told the Financial Times that Facebook alone may have seen as much as $US8.3 (A$11) billion in revenue evaporate in the second half of 2021. However, some experts consider Lotame’s estimates conservative. Among the companies most heavily hit were Snap, which has a business model entirely built around smartphone use, and Facebook, which depends on targeted ads for close to 98% of its revenue, according to Statista. That’s according to data from research advertising technology firm Lotame, which estimates that the four tech giants lost an average of 12% of revenue in the third and fourth quarters of 2021.

That decision cost Snap, Facebook, Twitter, and YouTube an estimated $US9.85 ($13 AUD) billion in lost revenue in the second half of this year, the Financial Times reports. With its App Tracking Transparency policy launched in April, Apple overhauled its iPhone lineup’s privacy settings to give users more control over their data.

Estimate apple financialtimes app snap facebook