Why Meta is banning political ads in EU from October
What's the story
Meta Platforms has announced that it will stop political, electoral, and social issue advertising on its platforms in the European Union (EU) from early October. The decision comes as a response to legal uncertainties posed by EU rules on political advertising. The new regulations, called the Transparency and Targeting of Political Advertising (TTPA), come into effect on October 10.
Regulation details
TTPA law and its implications
The TTPA was introduced in response to fears of disinformation and foreign interference in elections across the 27-nation bloc. The law mandates Big Tech firms to clearly label political ads on their platforms, disclose who paid for them, how much they cost, and which elections are being targeted. Non-compliance may result in fines up to 6% of a company's annual turnover.
Company response
Meta calls TTPA regulation 'unworkable'
Meta has called the TTPA regulation "unworkable," saying it creates an untenable level of complexity and legal uncertainty for advertisers and platforms that operate in the EU. The company believes that personalized ads are crucial to a wide range of advertisers, including those running campaigns to inform voters about important social issues that shape public discourse. However, Meta argues these regulations significantly undermine its ability to offer such services.
Industry impact
Google's similar move last year
Meta's decision to stop political advertising in the EU echoes a similar move by Google, which announced its own decision last November. Both tech giants have raised concerns about the operational challenges and legal uncertainties posed by the TTPA regulation. The new law is part of a broader effort by the EU to rein in Big Tech's power and ensure greater accountability and transparency from these companies.