Earlier this year, Apple changed the privacy settings on its iPhones...and as a result, Snapchat has seen its shares drop 25%. Yikes.
Background: Snapchat is the social media app that lets users share pictures with one another that then disappear. And it's a major content producer now thanks to its cool 'Stories' page.
What happened: Earlier this year, Apple changed the privacy settings on its iPhones. Ya know how every time you opened an app, you got an option to let the app track your activity, or not? Yeah, that.
What else: Snapchat said the change has made it difficult for ad partners to measure their ad campaigns for iPhones, which resulted in Snap missing its revenue targets...and seeing their shares drop 25%. Yikes.
💡Apple's new App Tracking Transparency feature is causing chaos for tech and digital media businesses.
💡If users click "ask app not to track", developers can't track customers or sell it to other companies. And this has ticked off a lot of companies. Surprise, surprise, Facebook is one of them.
💡The change has made it harder - and more expensive - for ad networks (like Snapchat) to target customers. But after Snap missed its revenue target by US$300 million... it could be rough waters ahead for all major tech companies.
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