3/30, 6:44 AM (Source: TeleTrader)
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Meta considering banning political ads in Europe

Executives at Meta Platforms Inc. are considering implementing a ban on all political advertising in Europe on Facebook and Instagram, the Financial Times reported on Thursday.

Two unnamed sources told the media outlet that the company fears that regulations that the European Union is planning to impose in 2024 will be too difficult to comply with, so the option of a direct ban is looking more appealing for Meta. In addition, political ads do not bring as much revenue as other advertising does due to a lack of interest from users, according to the report.

The social media giant will make a firm decision on the matter after Brussels details its approach to regulating the political ad market in June, the insiders added.

Baha Breaking News (BBN) / MS