Benzinga - by Mohit Manghnani, Benzinga Editor.
Today's top stories for Meta Platforms Inc. (NASDAQ: META) center around the company's regulatory challenges and strategic shifts in different markets. From compliance reports in India to potential subscription models in Europe and the discontinuation of Facebook News, here's what you need to know.
Compliance Report in India:
Meta Platforms has disclosed its monthly compliance report for India, indicating that it removed over 15.8 million pieces of content on Facebook and 5.9 million on Instagram in July.
The company received 3,200 reports via the Indian grievance mechanism and took action on 5,392 out of 25,306 specialized review cases.
These figures underscore the regulatory hurdles Meta faces in adhering to India's IT Rules 2021. More details here.
Potential Subscription Model in Europe:
In response to EU legislation and court rulings on privacy, Meta is contemplating the introduction of a paid version of its platforms in Europe.
This would allow users to opt for a free version with data collection or a paid version without it.
The move comes as Meta grapples with EU pressure over privacy issues and past fines for privacy law violations. Brussels Signal reports.
End of Facebook News in Europe:
Meta has announced that it will discontinue the Facebook News tab in the U.K., France, and Germany starting in early December.
The decision is part of Meta's strategy to focus on features that resonate with users, such as short-form videos, as it competes with platforms like TikTok.
The company aims to be a platform for connections and discovery rather than a primary source for news and political content. Read the full story here.
Disclaimer: This article was developed with the aid of artificial intelligence and Ultima Insights and underwent an editorial review.
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