Meta Platforms, Inc. META shares are trading lower Tuesday. It was earlier reported the company is exploring a $14/month subscription plan for European users as a potential solution to comply with EU regulations on personalized ads.
What To Know: The subscription proposal may be an attempt by Meta to circumvent the requirement by EU regulators for companies to receive consent before using behavioral data for personalized advertising. Meta has attempted to offer European users the choice to reject targeted ads, following a $1.3 billion fine against the company in May for violating the EU’s data privacy regulations. However, the process of opting out was inconvenient, something which the proposed subscription aims to fix.
The approximate price for desktop users is expected to be EUR10 (roughly $10.50) per month for access to Facebook or Instagram, while mobile users would pay about EUR13 (roughly $13.60) per month.
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META Price Action: Shares of META were down 2.03% at $300.59 at the time of publication, according to Benzinga Pro.
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