{"id":30384,"date":"2023-04-27T22:13:00","date_gmt":"2023-04-27T22:13:00","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-says-about-10-of-its-global-ad-revenue-at-risk-from-eu-data-flows-order\/"},"modified":"2023-04-27T22:13:01","modified_gmt":"2023-04-27T22:13:01","slug":"meta-says-about-10-of-its-global-ad-revenue-at-risk-from-eu-data-flows-order","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-says-about-10-of-its-global-ad-revenue-at-risk-from-eu-data-flows-order\/","title":{"rendered":"Meta says about 10% of its global ad revenue at risk from EU data flows order"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/27\/meta-warns-on-data-suspension-risk\/<\/a><\/br>
\nMeta says about 10% of its global ad revenue at risk from EU data flows order<\/br>
\n2023-04-27 22:13:00<\/br><\/p>\n

\n

Meta\u2019s earning call yesterday<\/a> was upbeat on better than expected revenue for the quarter. However buried in its disclosures to investors is a stark warning on looming regulatory risk it\u2019s facing in Europe \u2014 where a decision is expected in a matter of weeks (by May 12) that could see the tech giant ordered to suspend its transatlantic data flows.<\/p>\n

\u201cWe expect the Irish Data Protection Commission (IDPC) to issue a decision in May in its previously disclosed inquiry relating to transatlantic data transfers of Facebook EU\/EEA user data, including a suspension order for such transfers and a fine,\u201d Meta\u2019s CFO wrote in its Q1 2023 report<\/a>.<\/p>\n

We\u2019ve covered the (very) long-running saga \u2014 which hinges on a clash between US surveillance laws and EU privacy rights \u2014 most recently here<\/a> and here<\/a>. So regular TechCrunch readers will already know that a key development Meta is hoping will save its bacon in Europe is the adoption of a new high level data transfer pact which aims to resolve the legal uncertainty around EU data exports.<\/p>\n

However the negotiations over this replacement deal have dragged on longer than expected and EU institutions are still reviewing the draft decision the Commission announced in December<\/a>.\u00a0So while the bloc had initially suggested the deal might be finalized by the end of 2022, it was forced to revise the estimate \u2014 saying in December that it hoped everything would be nailed down before July<\/a>.<\/p>\n

Since then, multiple EU institutions involved in reviewing the deal have been raising concerns<\/a> \u2014 so there\u2019s still no firm word on when exactly the thing might be done. (Or, indeed, whether a new deal will survive the inevitable legal challenges, given the two prior pacts got invalidated by the Court of Justice of the EU.)<\/p>\n

In its earnings report, Meta tells investors it\u2019s hopeful the new EU-US data framework will arrive soon enough to be implemented before the deadline for a suspension of its EU transfers \u2014 meaning, were these stars to align, it could reboot its claim to have an authorized mechanism for its EU transfers and flick the suspension order away \u2014 however the company also warns it \u201ccannot exclude the possibility\u201d that adoption won\u2019t happen soon enough to prevent such an order.<\/p>\n

\u201cOur ongoing consultations with policymakers on both sides of the Atlantic continue to indicate that the proposed new EU-U.S. Data Privacy Framework will be fully implemented before the deadline for suspension of such transfers, but we cannot exclude the possibility that it will not be completed in time,\u201d Meta writes. \u201cWe will also evaluate whether and to what extent the IDPC decision could otherwise impact our data processing operations even after a new data privacy framework is in force.\u201d<\/p>\n

During a call with investors, the social networking giant was asked about the potential impact on revenues if it is forced to suspend EU-US data flows on regulatory order. Responding, CFO Susan Li began by reiterating its hope that the new high level framework will save its bacon. However, if this sought for escape hatch fails to open in time, she warned investors Meta is facing a hit of around a tenth of its worldwide ad revenue \u2014 saying \u201croughly 10%\u201d of this comes from ads delivered to Facebook users in EU countries.<\/p>\n

Li caveated the disclosure by saying it\u2019s difficult for Meta to forecast the overall impact of any EU data suspension at this point, given it lacks information on what a final order would contain \u2014 such as the length of a suspension.<\/p>\n

Earlier in the call Meta\u2019s CFO offered a breakdown of ad revenue growth by regions, saying it was strongest in the \u201cRest of World\u201d segment (at 9%) during the quarter, followed by North America and Asia-Pacific (6% and 4%, respectively) \u2014 while she specified that Europe had declined 1%.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/27\/meta-warns-on-data-suspension-risk\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/27\/meta-warns-on-data-suspension-risk\/ Meta says about 10% of its global ad revenue at risk from EU data flows order 2023-04-27 22:13:00 Meta\u2019s earning call yesterday was upbeat on better than expected revenue for the quarter. However buried in its disclosures to investors is a stark warning on looming regulatory risk it\u2019s facing in Europe \u2014 where a […]<\/p>\n","protected":false},"author":1,"featured_media":30385,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-30384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nMeta says about 10% of its global ad revenue at risk from EU data flows order - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-says-about-10-of-its-global-ad-revenue-at-risk-from-eu-data-flows-order\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta says about 10% of its global ad revenue at risk from EU data flows order - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/27\/meta-warns-on-data-suspension-risk\/ Meta says about 10% of its global ad revenue at risk from EU data flows order 2023-04-27 22:13:00 Meta\u2019s earning call yesterday was upbeat on better than expected revenue for the quarter. 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