Apple’s app tracking policy reportedly cost social media platforms nearly $10 billion

Illustration by Alex Castro / The Verge

An investigation by found that Snapchat, Facebook, Twitter, and YouTube lost around $9.85 billion in revenue following Apple’s changes to its privacy practices. Last year, that requires apps to ask permission to track users’ data. The , barring apps from tracking users if they opt out.

, and thanks to the FT’s report, now we know why company leaders were so frustrated. According to the report, Facebook lost the most money “in absolute terms” when compared to other social platforms due to its massive size. Meanwhile, Snap “fared the worst as a percentage of its...