The news: The Federal Trade Commission (FTC) announced Tuesday that it will appeal the November ruling in its antitrust suit against Meta that sought to dismantle its ownership of Instagram and WhatsApp.

The FTC stated that Meta has monopolized social networks for over a decade “by buying the significant competitive threats it identified in Instagram and WhatsApp.”

Zooming out: The FTC lost the initial antitrust trial in November when District Court Judge James Boasberg ruled that Meta does not operate a social media monopoly. The regulator had argued that Meta’s purchase of Instagram and WhatsApp weakened competition.

Judge Boasberg ruled in Meta’s favor, arguing that YouTube and TikTok offer “nearly identical” services and are direct, strong competitors to Meta.

What’s at stake: If the FTC is successful on appeal, Meta risks losing access to its biggest ad revenue source in Instagram and emerging revenue driver WhatsApp.