The EU has imposed a $414 million fine on Meta for violating the General Data Protection Regulation (GDPR). This comes from a 2018 complaint about the company’s policy requiring users to opt-in to personalized advertisements in order to use Facebook and Instagram.
This week, Meta announced its Variance Reduction System (VRS), which it says will equitably distribute ads via census data and machine learning. The new tech was created in partnership with the US Department of Justice (DOJ), representing the first instance of direct court oversight for Meta’s ad targeting and delivery, according to a DOJ statement
In a recent Wall Street Journal op-ed, President Biden has called on legislators to work on bipartisan reforms to hold big tech companies accountable for their data privacy policies, their impact on teenagers, and for any anticompetitive practices.
In light of the uncertain economic conditions in the coming year, marketers and agency leaders may shift their focus on technology, following a year of fluctuations. The start of 2022 saw new technologies such as metaverse activations, NFTs, and cryptocurrencies being highly sought-after, however, their popularity began to decline due to setbacks like the failure of digital exchange FTX, investors losing interest in Meta’s virtual world plans, and an overall downturn in Silicon Valley caused by increasing federal interest rates and inflation
In the coming year, we expect to see more brands and industries allocate a larger portion of their digital advertising budget towards TikTok, which will stimulate further innovation on the platform and create more marketing opportunities within the digital advertising industry.
For years it has seemingly been gangbusters on growth in the ads industry, particularly in digital advertising. Now, for the first time in ages, that growth seems to be slowing, and in some cases, even reversing.
Apple has been a major player in the advertising sphere since it created its iOS platform, but it truly made an impact in 2022 when it shifted its focus towards digital services and advertising
Google recently unmasked it’s plans for advertisers and tracking going forward. The tech and ads giant reiterated that it still plans to phase out cookies on Chrome by the end of 2024 and provided updates on the development of its post-cookie “Privacy Sandbox” solutions.
As the plot continues to thicken with the rise of inflation, cost of goods rising, less companies going public, and stocks falling – consumers and owners have been conservative, which has put the market in a state of uncertainty.
You may think you are… but you’re not. And once you understand this and what you are actually selling – selling everything and anything becomes a whole helluva lot easier.
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