*New*: @Apple’s privacy settings caused an estimated $9.85bn of revenues to evaporate in the second half of this year at @Snap, @Facebook, @Twitter and @YouTube, as their advertising businesses were shaken by the new rules

Average impact on revenue: -12%

*Thread* https://t.co/vsLvsaU4QW

Lost revenues will extend into the next quarters as the advertising groups rebuild using a privacy-centric paradigm.

“New tools and frameworks need to be developed from scratch and tested extensively before being deployed to a high number of users,” says @eric_seufert

.@apple, meanwhile, reported a “record” quarter for its advertising business on Thursday, as its services segment beat revenue estimates by $700m to reach $18.3bn.

Full story: https://t.co/flG4KQqr03 @FT

And…last but not least the key chart: https://t.co/A6KB0zBZWu