Purpose: The purpose of this paper is to explain how privacy concerns impact the relationship between personalization and the factors of advertising value on smartphone advertising. Design/methodology/approach: A explanatory research design with a quantitative approach was conducted, utilizing an online questionnaire with a total of 103 respondents. Conclusion: The result indicates that privacy concerns only moderates the relationship between personalization and entertainment. It was also shown that privacy concerns had a direct impact on irritation Research limitations: The result is not generalizable as a non-probability sample was used, and only respondents between the 18-35 answered the questionnaire. Originality/value: A new perspective of how the moderation of privacy concerns impacts the relationship between personalization and the factors of advertising value. Keywords: Smartphone advertising, advertising value, informativeness, entertainment, irritation, credibility, incentives, privacy concerns. Paper type: Research paper