Time Magazine: Social media made $11 billion in U.S. ad sales from minors and therefore has ‘overwhelming financial incentives’ to avoid protecting children, study finds
From Time Magazine:
A study from the Harvard T.H. Chan School of Public Health found that social media companies made over $11 billion in U.S. advertising revenue from minors last year. The study estimates that YouTube made the most ad revenue from users aged 12 and under, followed by Instagram and Facebook. Meanwhile, Instagram made the largest ad revenue from users aged 13-17, followed by TikTok and YouTube.
The researchers say the findings highlight the need for government regulation of social media since the companies have failed to meaningfully self-regulate, and greater transparency from tech companies could help alleviate harms to youth mental health. This year, lawmakers in states like New York and Utah have introduced or passed legislation to curb social media use among kids, citing harms to youth mental health and other concerns. The American Academy of Pediatrics has warned that children are “uniquely vulnerable to the persuasive effects of advertising” and have called for more regulations on advertising to children.
Read more: Social media made $11 billion in U.S. ad sales from minors and therefore has ‘overwhelming financial incentives’ to avoid protecting children, study finds