Over 10% of Meta 2024's revenue comes from hoax ads.
Meta is revealed to have earned about $16 billion, or about 10% of its 2024 sales, from fraudulent and illegal advertising, such as fake investment sites, illegal online casinos, and prohibited medical products, according to a Reuters report citing in-house documents.
According to the document, Meta displays some 15 billion "high-risk" fraudulent ads a day and generates an average of $7 billion ($2.26 billion) in annual revenue from these ads. Despite the company's efforts to reduce the number of ads that go into the network in violation of its platform policy, some documents point out that Meta is concerned that the removal of these ads could hit its revenue target.
Meta confirmed it had taken "proactive action" to deal with fraudulent ads, clarifying that the 10% figure was only a preliminary assessment and that many of the ads classified as fraudulent networks "did not violate the actual rules."
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