The British spent around 14 billion pounds on digital advertising in 2019, prompting Britain to impose a new system to prevent Google and Facebook from monopolizing the market.
Britain will start activating the new system early next year, to reduce the dominance of Google and Facebook to get small companies out of competition and harm consumers.
The law will implement a dedicated unit within the British Competition and Markets Authority, which said earlier this year: It needs new laws to keep tech giants in check, according to the technology portal ait news.
Digital advertising is dominated by Google and Facebook, with nearly 80% of nearly £14 billion spent in 2019, according to the UK Competition Regulatory Authority.
In return, the two American companies said: They are committed to working with the British government and the regulator on digital advertising, and this includes giving users greater control over their data and the ads shown to them.
He is “an unabashed supporter of the technology,” said Oliver Dowden, Britain’s digital technology minister, but there is a consensus that focusing power in a few companies limits growth, limits innovation, and has negative effects on individuals and companies that depend on it.
“The time tackles that and unleashes a new era of technical growth,” Dowden said.
The newly established Digital Markets Unit, which will begin operating in April, could be granted powers to suspend or prevent decisions made by technology companies and impose financial penalties for non-compliance.
Companies will need to be more transparent about how they use consumer data, the government said, and restrictions that make it difficult to use competing platforms will be banned, adding that the rules will also support the news industry, restoring balance to the relationship between publishers and platforms.
The British Competition and Markets Authority said on Monday: It is assessing that complaints against one of Google’s technologies call for a formal investigation.