Social platforms’ revenue grow but how will 2021 play out
Social media companies Facebook, Twitter and Pinterest posted blowout revenue gains in third-quarter earnings released last Thursday, a sign that disruptions related to the coronavirus pandemic have cooled and that marketers again are spending at higher levels. The fourth quarter will most likely look the same but next year can be harder. Data privacy regulations, including the California Consumer Privacy Act, continue to affect the digital advertising ecosystem, while antitrust scrutiny of Big Tech is ramping up both in the US and abroad. Planned changes to Apple’s privacy policies will also have a considerable impact on both mobile platforms and marketers. The iPhone maker will soon require apps to ask for opt-in consent from users to access its Identifier for Advertisers (IDFA).
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