World, say welcome to Meta. Mark Zuckerberg today announced that Facebook will be splitting into two branches: one arm focused on Facebook, Instagram, WhatsApp and the company’s other existing apps and one arm focused on the development of the metaverse. All will live under the new Meta umbrella brand. The Drum surveyed an array of marketing and ad industry players to get their instant feedback once the news hits. Here’s what they had to say.

“With social media under scrutiny, and with increasing regulation inevitable, the rebrand and pivot seem to be an attempt to deflect some of the attention from recent scandals, while also entering into a new arena where Facebook may feel better positioned to shape the rules, which is of particular importance as Facebook looks to mitigate the commercial impact of Apple’s ongoing privacy push on its existing ad business.” -Arielle Garcia, chief privacy officer at UM Worldwide

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