Apple’s new rule undermines its business: Meta

Facebook’s parent company Meta criticized Apple on Tuesday for changing the terms of its app store to take a cut of social media ad revenue. Meta said Apple’s move was “undermining other companies in the digital economy. ”

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Apple unveiled the policy change this week, requiring users and advertisers to use in-app purchases when paying for “promoted” posts in apps like TikTok and Meta-owned Instagram.

Moreover, Apple typically takes a commission of up to 30% on in-app purchases, which means companies like Meta get a portion of their ad revenue going to Apple.

“Apple previously said they don’t take a cut of developer ad revenue. Now, they’ve clearly changed their mind,” Meta said. “We remain committed to providing small businesses with an easy way to place ads on our apps. and grow the business.” Apple has yet to comment. Twitter, TikTok, and other social media companies have yet to comment.

(via)