News

Hidden Income Social Media Generates from Children Revealed

single-image

Key Points

  • According to a Harvard research, big social media companies made $11 billion from child-targeted advertisements, which sparked demands for government intervention.
  • With $959.1 million and $4 billion in revenue from kids and teenagers, respectively, YouTube and Instagram topped the charts.
  • Significant earnings from minors were also made by Snapchat and TikTok, which prompted questions about industry self-regulation and enhanced security.

Stay in the know on crypto by frequently visiting Crypto News Today

Major social media sites like Facebook, Instagram, Snapchat, TikTok, X (formerly Twitter), and YouTube took in an astounding $11 billion in advertising revenue from minors in the US last year, according to a recent study by the Harvard T.H. Chan School of Public Health.

These results have led to a fresh push for government regulation of social media, as sector self-regulation seems to have failed.

Advertisement

A monetary reward for regulation

The study’s findings highlight the urgent need for governmental regulation of social media, especially in light of its effects on kids and teenagers. Scholars contend that sector participants have fiercely opposed previous government attempts to create strong safeguards for juvenile users.

The recently discovered information indicates that social media companies have a strong financial interest to resist laws designed to protect children.

To arrive to these startling numbers, researchers integrated data from a number of sources, including surveys from Common Sense Media and Pew Research as well as U.S. Census demographic statistics. They added insights from Qustodio, a parental control tool, and Insider Intelligence to these sources.

CryptoCaster Quick Check:

The researchers calculated the amount of time kids spend on each of the six major platforms in 2022 as well as the yearly advertising revenue each of the platforms produced by integrating these datasets.

Revenue from social media advertising, broken down by platform

The Harvard analysis estimates the revenue earned by minors, even though the platforms do not publicly reveal this information. With an estimated $959.1 million in advertising revenue among children under the age of 12, YouTube came in first, followed by Instagram ($801.1 million) and Facebook ($137.2 million).

With users between the ages of 13 and 17, Instagram led the way in terms of advertising revenue, bringing in almost $4 billion. TikTok and YouTube came in second and third, respectively, with $2 and $1.2 billion.

Income streams specific to a platform

Snapchat stood out in particular because it is anticipated that users under the age of 17 will account for 41.4% of its advertising revenue by 2022. With 35% of the total, TikTok came in second, followed by YouTube with 27% and Instagram with 16% of their advertising revenue coming from this group. Facebook and Twitter, on the other hand, disclosed smaller figures, attributing just 1.9% and 2.0% of their combined yearly advertising revenue to users under the age of 17.

Advertisement

Social media companies receive a sizable portion of their money from minors, which has prompted questions about the influence and risks these platforms pose to younger users. Critics contend that government intervention is required since the industry’s self-regulation has not been sufficient in safeguarding susceptible users.

Government inquiry up for discussion

Government effort to protect children’s and teenagers’ wellbeing in the digital age has been sparked by these findings. Proponents of regulation contend that depending only on the goodwill of social media corporations is insufficient, given the financial incentives at play.

It is unclear how governments would handle this issue as talks about regulating social media networks pick more steam. The Harvard study offers insightful information that clarifies the amount of money made from minors in the advertising industry and emphasizes the necessity of thorough regulation.


CryptoCaster™ remains committed to keeping our worldwide audience informed about blockchain technology adoptions and the latest challenges posed by government-directed fiat financial systems, banking groups, and other institutional giants. CRYPTOCASTER® - DECENTRALIZED FREEDOM! 


We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster


Please Read Essential Disclaimer Information Here.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.


Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


CRYPTOCASTER HEATMAP


You may also like