No more political ads on Meta?
Meta's management is considering introducing a company-wide ban on political advertising. The reason for this is the upcoming new EU regulation: It is unclear whether the social networks Facebook and Instagram can implement the required conditions for online political advertising campaigns. In the event of a violation, the platforms face penalties of up to four percent of global sales.
Meta's executives are concerned because the definition of political advertising is very broad. It would be easier for the company to basically stop all political advertising in the EU - especially because the revenue from political ads is minuscule compared to the general business. The final decision is to be made when the EU has reached a binding agreement on a definition of political advertising.