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0.000134179730554236 0.000325865059917561 -0.00175072600818497 -0.00109580113286035 0.000453655279493171 0.00227466590844466 -0.00461003217118791 -0.00339203164085842
Stock impact report

Social media platforms removed 4.7 million accounts after Australia banned them for children [BNN Bloomberg (Canada)]

Meta Platforms, Inc. - Class A (META) 
Company Research Source: BNN Bloomberg
“We stared down everybody who said it couldn't be done, some of the most powerful and rich companies in the world and their supporters,” communications minister Anika Wells told reporters on Friday. “Now Australian parents can be confident that their kids can have their childhoods back.” The figures, reported to Australia's government by 10 social media platforms, were the first to show the scale of the landmark ban since it was enacted in December over fears about the effects of harmful online environments on young people. The law provoked fraught debates in Australia about technology use, privacy, child safety and mental health and has prompted other countries to consider similar measures. Officials said the figure was encouraging Under Australian law, Facebook, Instagram, Kick, Reddit, Snapchat, Threads, TikTok, X, YouTube and Twitch face fines of up to 49.5 million Australian dollars (US$33.2 million) if they fail to take reasonable steps to remove the accounts of Australia Show less Read more
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