Snap on Thursday fell short of Wall Street estimates for quarterly revenue as the owner of photo messaging app Snapchat said Apple’s App Tracking Transparency framework to protect user privacy hurt Snap’s ability to target and measure its digital advertising.
Shares of Snap dropped 25% in trading after the bell.
The Santa Monica, California-based company said that issue was compounded by global supply chain disruptions and labor shortages, which caused companies to pull back on their advertising spending.
Snap said that while the Apple privacy updates, which prevent digital advertisers from tracking iPhone users without their consent, were expected to hurt third quarter results, an ad measurement tool provided by Apple “did not scale as we expected.”
Snap said it expects the Apple privacy changes and global supply chain disruptions to linger through the fourth quarter.
MacDailyNews Take: Ad revenue falling short? Welcome to the club, Snap!
Users should have full control of whether they are tracked across apps or, for that matter, tracked at all.
Privacy means people know what they’re signing up for, in plain English, and repeatedly. I’m an optimist; I believe people are smart, and some people want to share more data than other people do. Ask them. Ask them every time. Make them tell you to stop asking them if they get tired of your asking them. Let them know precisely what you’re going to do with your data. — Steve Jobs
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Thank you Apple for cordoning off the personal space of users that have chosen to be a part of your eco-system. Please continue with these measures in the manner consistent with personal safety and sovereignty. With that in mind, please not just delay, but thoroughly dump the not-so-bright idea re: the photo-scoping that was proposed a number of weeks ago.
Continue to be a great producer of technology and media. Let the police work for those that have the specific appointment and definition.
WTF! Because Apple informs users that they’re being tracked by an app and may opt out, Apple is being blamed for causing some company’s revenue losses. It’s the user that decides whether they want to be tracked or not. It’s not Apple’s fault if the user decides to not be tracked.