Last night, Facebook and Instagram experienced a global outage, preventing millions of people from accessing their accounts.
Users found that their accounts on Meta-owned apps like Facebook, Instagram, and WhatsApp were mysteriously logged out and unable to log back in or open the app completely.
According to the Down Detector website, the outage seemed to be global. At that time, many users were worried that their accounts had been hacked. # CyberAttack even became a trending keyword on Twitter at times.
However, shortly afterwards, Meta reassured users and stated that the outage was just a “standard technical issue” on the company’s part.
After that chaos, most Meta users have been able to return to social media platforms like Facebook and Instagram.
This led to panic and worry as people flocked to Twitter – Meta’s rival platform.
It is easy to see that this is a disaster for millions, even billions of users who rely on Facebook and Instagram, but the bigger question now is how much advertising revenue could Meta lose due to the above-mentioned incident?
In fact, Mark Zuckerberg’s company has a huge advertising revenue, and Ladbible tried to calculate how much Meta could have lost from this incident.
Taking Meta’s advertising revenue at $ 38.7 billion (£30.46 billion) in the fourth quarter of 2023, meaning in 92 days, the company earned about $ 420 million (£330 million) per day. Further calculations will give a figure of about $ 17.5 million (£13.78 million) per hour, equivalent to about $ 292,119 (£230,000) per minute.
If Meta is making the same advertising revenue they did in the last three months of last year, then their social media sites being disrupted could mean a colossal amount of money “flying away”.
According to Dan Ives, CEO at Wedbush Securities in New York, Meta could have lost about $ 100 million in revenue due to the global platform outage.
Ives told DailyMail.com that Meta will probably not disclose the extent of the impact of this incident on their finances: “This is an insignificant amount of revenue, possibly less than $ 100 million revenue blown away”.
Of course, with a company that generated $ 134 billion in revenue in 2023, the above-mentioned amount may be insignificant to Meta. However, due to the significant impact of the incident, Meta may also have to put in a lot of effort to recover.
Not to mention, after the incident, Meta’s shares also fell sharply, dragging Mark Zuckerberg’s wealth down as well.
Accordingly, in the trading session on March 5, Meta’s shares, the parent company of Facebook, fell 1.6% to $ 490.22 per share.
According to Forbes’ calculation, billionaire Mark Zuckerberg’s net worth dropped $ 2.8 billion on March 5 to $ 171.9 billion.
