for its massive ad biz in the first quarter of 2022 were a bigger impact from Apple’s iOS privacy changes and new EU regulations, as well as “macroeconomic challenges” leading to reduced marketing budgets. The company estimates a roughly $10 billion economic impact in 2022 stemming from Apple’s iOS changes, which limit Meta’s ability to target and measure ads, CFO Dave Wehner said on the Q4 earnings call.
According to Meta, it faces “increased competition for people’s time and a shift of engagement within our apps towards video surfaces like Reels, which monetize at lower rates than Feed and Stories.” The company first launchedMultiple analysts cut price targets on Meta in the wake of the Q4 earnings report.
To be sure, Zuckerberg’s pointing to TikTok as a growing rival is partly aimed at governments and regulators — an attempt to demonstrate that it does not have a monopoly in the social-media sector. The near-term concerns for the company are developing effective workarounds to Apple’s iOS privacy changes and boosting monetization of Reels videos.
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