With hundreds of millions of users relying on smartphones to store their sensitive information, data exploitation has become a serious issue. To shield their users from constant data abuse, a year ago, Apple released an App Tracking Transparency feature. This policy requires all applications on App Store to ask for users’ permission to track their data across sites and other apps. This feature, however, proved to be a very costly affair for tech companies, such as Facebook, Snap, YouTube, and Twitter. Find more interesting news on the GBC Time website.

A study by Lotame shows that Apple’s transparency feature is costing social media giants nearly $16 billion a year. Facebook took the hardest blow from the privacy policy. As the research predicts a $12.8 billion loss in revenue over the year.

Video planform YouTube is projected to suffer the second-biggest revenue loss of $2.1 billion. Snapchat and Twitter were also affected by Apple’s transparency feature, which is costing them $546 million and $323 million, respectively.

So, better data privacy means lower revenues for the applications. That’s why Facebook and other apps try to find new tools for tailored advertising.

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