In a move that will have marketing managers across the globe feeling a familiar sense of unease, Apple (NASDAQ: AAPL) has announced the latest iOS update for its fleet of iPhones. A similar update in April saw digital advertising change forever as Apple forced users to opt-in to being tracked across apps as opposed to opting out.
With further privacy features as part of the latest update, will we see another ‘ad-mageddon?’
Your data health check-up
April’s iOS 14.5 update is undoubtedly more impactful than Apple’s latest set of changes. Some of the world’s largest platforms were affected, with only 11% of people worldwide, and a measly 4% in the U.S., opting to be tracked by advertisers so far. Targeted advertising, at least how we knew it, appears to be dead.
However, the latest update could spell even further trouble for companies, like Meta (formerly Facebook), who rely on this advertising for revenue. Apple users will now have access to an app privacy report. This will allow people to see exactly what information apps are collecting and, more importantly, where they are sending your data.
This could wreak havoc on companies that still utilize this form of advertising. As evidenced by the number of people who opted out of tracking, people certainly care about their data privacy. In the past though, companies could conduct most of their tracking behind the scenes. Now, it’s going to be front and center.
By making this information easily accessible, Apple is shining a light on the true cost of using these apps and services. As American artist Richard Serra once said, “if something is free, you’re the product.”
This could see more consumers take decisive action to improve their data health, and a lot of large companies could end up caught in the crossfire.
Financial Writer at MyWallSt
Pádraig’s favorite stock is Nike. Growing up as a sports fanatic, seeing Nike collaborate with athletes like Jordan, Lebron, and Ronaldo inspired him and cemented the brand in his mind. Now, despite having failed miserably in his attempts to earn a fabled Nike sponsorship, he still believes in the innovation and creativity behind Nike and is convinced they will only grow stronger as the world's leading sports brand.