Meta Platforms will stop selling political advertising space in the European Union, citing new regulations that the company believes create “an unbearable level of complexity and legal uncertainty”.
The parent company of Facebook and Instagram will close its political advertising business in the EU from early October, according to a post published on Friday, Bloomberg reported.
The company cited new rules on transparency and targeting of political advertising, which come into effect in October and restrict the data that can be used to target political messages to users.
Meta wrote that it had engaged with policymakers on the issue before the regulation was finalised, but the rules would “effectively remove popular products and services from the market, reducing choice and competition”.
Google’s parent company Alphabet also announced late last year that it would stop selling political advertisements in the EU.
The decision represents the latest in a series of clashes between Meta and European regulators, who are trying to limit the power and data collection of major technology companies.
EU regulators have challenged Meta’s plans to offer an ad-free version of its platforms and have imposed fines of almost €1 billion on the American giant, Bloomberg reported.
(information from capital.gr)
