In Apples upcoming iOS 14 release, apps will have to explicitly ask users’ permission to collect and share data. This means that adds will no longer just be able to “follow” users to apps outside of Facebook.
Facebook says that it could lose most of its revenue from ads on apps, as users targeted in this way are up to eight times more likely to buy products.
Facebook describes its Audience Network technology as a way for advertisers to extend their campaigns beyond Facebook and into other mobile apps, by using and identified code to target advertising on the basis of users ‘likes’ and preferences.
iPhone users can currently opt out of this tracking, but when iOS 14 users have to actively opt in before they can be tracked, it may make the whole thing ineffective.
Your view on this depends on how you see the sharing of information to enable targeted advertising.
Facebook expands on why this is needs more consultation, in their blog post.