Apple introduced new changes in its privacy settings with iOS 14 which makes it difficult for any app to track users. Facebook’s executive said this new change in privacy to be a big threat to every business that is based on advertising.
Facebook’s chief revenue officer David Fischer said that several businesses that rely on advertising are under threat by Apple’s new privacy features. He mentioned that Apple is all about selling luxury products to those who can afford it but the advertising companies make products and services more affordable for everyone. This is what he said in the virtual session of the advertising week this Tuesday.
“And right now, frankly, some of that is under assault, that the very tools that entrepreneurs, that businesses are relying on right now are being threatened. To me, the changes that Apple has proposed, pretty sweeping changes, are going to hurt developers and businesses the most.”
“That’s fine, but I don’t think it’s appropriate to then dictate that has to be other business models, and the one that we believe is so valuable, one that relies on advertising, in our case, personalized ads, to enable free products, enable businesses to launch and grow and thrive, we’re going to defend that. And we think it really important that not just we but our industry does that.”
iOS 14 introduces new privacy features to the iPhone that makes it difficult for apps to track users. These new features directly impact apps and services which directly rely on the revenue generated from advertising.
According to Instagram CEO Adam Mosseri, the ad rates are expected to drop by up to 50% after Apple introduced its new privacy features. As per the reports, The US tech giant is not willing to give up its decision on its new privacy features until next year.