The UK will impose new rulings on Facebook and Google, to prevent the tech giants from abusing their market dominance.
The Competitions And Markets Authority said the two firms accounted for around 80% of the £14bn ($18.7bn) spent on advertising online in 2019.
The new rules will aim to give users more control over their data, as well as helping smaller businesses to thrive, and ensure other outlets aren’t forced out of an already crowded market.
Digital Secretary, Oliver Dowden MP, said to BBC News: “There is growing consensus in the UK and abroad that the concentration of power among a small number of tech companies is curtailing growth of the sector, reducing innovation and having negative impacts on the people and businesses that rely on them.
“It’s time to address that and unleash a new age of tech growth.”
The Digital Markets Unit could be given powers to suspend, block and reverse decisions made by technology firms and to impose financial penalties for non-compliance.
Google and Facebook have previously said they are committed to working with the British government and regulator on digital advertising.
Earlier this month, Apple cut its mandatory commission rates in half for smaller businesses that brought in less than $1 million in the past year. The goodwill gesture came as there was growing pressure from the ‘Coalition For App Fairness’ over the allegedly restrictive way Apple runs its app store.
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