Meta Platforms built a $114 billion-a-year advertising juggernaut by tailoring ads to Facebook and Instagram users based on what they liked, posted or bought on the company’s apps. Now, under mounting pressure from regulators around the world, Meta is backing away from that approach.
In the EU, users can now choose to see ads based only on basic personal data such as age, gender and general location. Meta is also considering offering subscriptions to a version of its services without ads. Meta’s regulatory woes don’t end in Europe: Countries such as India and Brazil are also considering stricter regulations, and Meta leaders are concerned about the passage of legislation that mimics the EU’s efforts, according to two people familiar with the situation.