Australia’s competition watchdog on Monday, December 10, recommended tougher scrutiny and a new regulatory body to check the dominance of tech giants Facebook and Alphabet’s Google in the country’s online advertising and news markets.
The recommendation, in a preliminary report on the US firms’ market power, comes days after Australia passed laws forcing tech companies to help police access private user data, and amid growing concern from authorities worldwide about the giants’ commercial behavior and distribution of so-called “fake news.”.
The report outlines the Australian Competition and Consumer Commission’s (ACCC) concerns regarding the market power held by these key platforms, including their impact on Australian businesses and, in particular, on the ability of media businesses to monetize their content. The report also outlines concerns regarding the extent to which consumers’ data is collected and used to enable targeted advertising.
“Digital platforms have significantly transformed our lives, the way we communicate with each other and access news and information. We appreciate that many of these changes have been positive for consumers in relation to the way they access news and information and how they interact with each other and with businesses,” ACCC Chair Rod Sims said.
Full Content: ACCC
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