Social media networks are in a standoff with Russia amid its invasion of Ukraine.
Facebook, accusing the world’s largest social network of unfairly censoring media outlets within the country—and instaneously zapping away millions of dollars in revenue from Facebook’s parent company, Meta.
How much exactly? Facebook has about 66 million users in Russia, according to Statista, a data-tracking firm. 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 had already been restricting some access to Facebook after it placed fact-check labels on some posts by state-affiliated media organizations and then banned those outlets, which included Sputnik and RT.
On Sunday, Nick Clegg, Meta’s president of global affairs, said Facebook had thwarted a Russia-led disinformation campaign against Ukraine and a seperate attempted by hackers to target the Facebook accounts of high-profile Ukranians.
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