Social media companies earn $11B in ad revenue from minors. Lawmakers, experts want government regulations

Social media companies have collected an estimated advertisement revenue of $ 11 billion this year from minors alone. It has triggered a debate that there should be government regulation of social media since the companies make money from children, but they have failed to meaningfully self-regulate. Experts feel that such regulations and greater transparency from tech companies could help alleviate harm to youth mental health. It can also curtail potentially harmful advertising practices that target children and adolescents.

Reach of social media platforms

Harvard T.H. Chan School of Public Health published on Wednesday a report on the estimated ad revenue of the social media companies. The researchers have estimated the number of users under 18 on social media platforms like Facebook, Instagram, Snapchat, TikTok, X (formerly Twitter) and YouTube in 2022 based on population data from the US Census and survey data from Common Sense Media and Pew Research.

Lawmakers take action

Researchers and lawmakers have expressed concerns over the negative effects stemming from social media platforms, whose personally tailored algorithms can drive children towards excessive use.


The lawmakers in the US states of New York and Utah introduced or passed legislation that would curb social media use among kids, citing harms to youth mental health and other concerns. Besides, dozens of states have sued Meta, which owns Instagram and Facebook. It has been accused of allegedly contributing to the mental health crisis.

Experts express concern

Talking to the New York Post, Bryn Austin, a professor in the Department of Social and Behavioral Sciences at Harvard University said, "Although social media platforms may claim that they can self-regulate their practices to reduce the harms to young people, they have yet to do so, and our study suggests they have overwhelming financial incentives to continue to delay taking meaningful steps to protect children."

American Academy of Pediatrics said in its policy paper in 2020 that children are "uniquely vulnerable to the persuasive effects of advertising because of immature critical thinking skills and impulse inhibition."

FAQs:

What actions have lawmakers taken against social media companies?
The lawmakers in the US states of New York and Utah introduced or passed legislation that would curb social media use among kids, citing harms to youth mental health and other concerns. Besides, dozens of states have sued Meta, which owns Instagram and Facebook. It has been accused of allegedly contributing to the mental health crisis.

Why do experts want government regulation on social media companies?
Experts and lawmakers of certain US States want government regulation of social media since the companies make money from children, but they have failed to meaningfully self-regulate. Experts feel that such regulations and greater transparency from tech companies could help alleviate harms to youth mental health.