Meta, the parent company of Facebook and Instagram, has been fined nearly €400mn by the EU’s main privacy regulator for breaching the bloc’s privacy rules, in a move that some experts believe could threaten a primary source of revenue for the company.
Ireland’s Data Protection Commission issued two separate fines on Wednesday — €210mn for Facebook breaking the bloc’s landmark data privacy rules, and €180mn to Instagram for similar violations.
The ruling also orders Meta to align its approach to processing user data with EU law within three months, which could have significant implications for the way both social media platforms wield personal data for advertising, a substantial source of revenue for the $335bn company.
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