As part of a settlement with authorities in 47 U.S. states, the District of Columbia and several territories, Meta✴ Agreed to pay up to $17.1 billion and make a series of changes to the operation of its social network: limiting the time teenagers can use social networks, tightening parental controls and disabling push notifications at certain times. New rules will significantly change meta-interactions✴ with younger users, so the company is trying to ensure its competitors take similar measures.
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Yuan✴ Provides a mechanism designed to level the playing field and prevent the exodus of youth to competitors. If Facebook✴ and Instagram✴ must operate by the new rules, so according to the company’s plan, YouTube, TikTok and Snap should do the same. For this yuan✴ Financial incentives designed to encourage competitors to introduce similar restrictions were included in agreements with state attorneys general.
Yuan✴ Regardless, states will pay more than $12 billion and agree to restrict Facebook use by teens✴ and Instagram✴ Two hours a day. If YouTube, TikTok and Snap impose similar restrictions, Meta✴ The daily limit will be tightened to one hour. Additionally, if YouTube and TikTok reach agreements with states that pay similar fees, Meta✴ An additional $5.3 billion will be paid. So far, none of the companies has publicly agreed to accept Meta’s proposal✴ situation.
Yuan✴ also published an open letter to YouTube and TikTok calling for similar restrictions. It’s important for the company that competitors don’t gain an advantage in the battle for younger users. long time✴ Respond to child safety complaints by expanding parental monitoring tools. However, by 2023, authorities in more than three dozen states accused the company of knowingly using Instagram features✴ and Facebook✴to promote youth participation. Subsequently, the number of lawsuits continued to increase.
Meta’s market capitalization is approximately $1.45 trillion✴ Last quarter alone, it achieved a net profit of US$18.3 billion. In comparison, even the maximum settlement amount is only equivalent to about 8.5% of Meta’s annual revenue.✴payments will be spread over ten years. Therefore, payments themselves are unlikely to be a major problem for the company.
Restrictions that may reduce engagement among younger users may be much more sensitive. Yuan✴ They must turn off push notifications in the evening and during school hours, enforce age verification and limit total time spent on Facebook✴ and Instagram✴ Two hours a day. The company must also link accounts belonging to the same teen to prevent circumvention of restrictions.
mehta’s rivals✴ Not yet required to abide by the same rules and potentially gaining an advantage over younger users. As a result, the company is now calling for its restrictions to become the “new industry standard” for children’s online safety. “These measures will only be truly effective if similar protections are implemented in partnership with our colleagues TikTok and YouTube” – Emphasis in Meta✴.
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