LONDON (Reuters) – a british competition regulator said that there is a strong case for stricter regulation of Google and Facebook to curb the negative consequences that result from their dominance of the online advertising.
FILE PHOTO: The logo of Google is displayed on the high-profile, high-tech start-ups and business leaders, the meeting, Tour-Tech,Paris, France-May 16, 2019 at the latest. REUTERS/Charles Platiau/File Photo
The Competition and Markets (CMA), said that Google accounts for more than 90% of the revenue for search advertising in the united kingdom by 2018, with a turnover of around 6 billion lbs, and Facebook accounted for nearly one-half of all display advertising in the same year.
He said: “big is not necessarily ‘bad’, and the platform has been innovative and value-added products and services on the market, but we were in their position, it can have negative consequences for the people and companies who have their services each and every day.
It is also a matter of people not feeling in control of their data when they have been on a variety of platforms.
“The majority of us visit social media sites, and search on the internet each and every day, but it is how these companies work, it may be a mystery,” CMA’s Chief Executive, Andrea Coscelli, said.
For digital advertising fuels the large corporations such as Google and Facebook, and we have a picture of how this complex new market for the first time.
The CMA started its research on digital advertising, including the right of ownership of the data, in mid-July.
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He’s said on Wednesday it was looking at how companies collect and use people’s data, and how the money is, and what it meant for competing firms, as well as the people and companies that are using these services every day.
It is said that it was inviting comments on what it had been, and would be likely to make recommendations to the Uk’s new government on how to regulate the industry.
The CMA added that it stood ready to act directly, using its own authority, and, in the end, these issues are not addressed by other means, both domestically and internationally.
Reporting by Paul Sandle, editing by Louise Heavens