Meta Platforms Inc (NASDAQ:META) shares are trading lower Tuesday after CEO Mark Zuckerberg announced changes to how creators generate income on the company's social media platforms.
"We'll hold off on any revenue sharing on Facebook and Instagram until 2024," Zuckerberg wrote in a Facebook post Tuesday. That includes refraining from charging creator fees on paid online events, subscriptions, badges and bulletins, he added.
Meta shares may also be trading lower after the company settled a lawsuit over a housing advertising system, which encouraged discrimination between Facebook users based on characteristics like race, religion and sex, according to a Reuters report citing the Department of Justice.
"Because of this ground-breaking lawsuit, Meta will — for the first time — change its ad delivery system to address algorithmic discrimination," Damian Williams, U.S. Attorney of Manhattan, reportedly said in a statement.
Meta will reportedly pay a $115,054 civil penalty, which is the highest penalty allowed under law, according to the Department of Justice.
See Also: This Is What Whales Are Betting On Meta Platforms
META Price Action: Meta has traded between 384.33 and $155.97 over a 52-week period.
The stock was down 4.1% at $157 at press time, according to data from Benzinga Pro.
Photo: StockSnap from Pixabay.
