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Russia has turned off access to Facebook, accusing the world’s largest social network of unfairly censoring media outlets within the country—and instantaneously zapping away millions of dollars in revenue from Facebook’s parent company, Meta.
What is the exact figure? According to Statista (a data-tracking company), Facebook boasts about 66 millions Russian users. The app earned $19.68 per user in Europe last year, according to the company’s latest annual report. Meaning, it’ll lose about $3.6 million per day—or $1.3 billion for the year—from the block in Russia. For perspective, that represents a little more than 1% of Meta’s total revenue: It brought in $117.9 billion in 2021.
Facebook and other social media networks have been in a standoff with Russia as the platforms have sought to crack down on misinformation amid the country’s invasion of Ukraine. Russia was already restricting access to Facebook, having placed fact-check labels for some posts of state-affiliated media organisations and later banned those outlets.
On Sunday, Nick Clegg, Meta’s president of global affairs, said Facebook had thwarted a Russia-led disinformation campaign against Ukraine and a separate attempt by hackers to target the Facebook accounts of high-profile Ukranians.
Clegg posted this tweet after Russia had announced its ban for Friday.
The post Facebook’s Russia Ban Will Cost It About $3.6 Million A Day appeared first on Social Media Explorer.
