Australian government releases report that recommends more regulation on the market power of multinational digital platforms
The Australian Competition and Consumer Commission has found, after an 18-month investigation, that antitrust and privacy laws have not caught up to the real world.
For every $100 spent by advertisers online in Australia — excluding classified ads — $47 goes to Google, $24 to Facebook and $29 to other players. The ACCC has found an "imbalance of bargaining power" between media businesses in their dealings with Google and Facebook. "At the heart of this important ACCC report is a focus on delivering better consumer and commercial outcomes," Frydenberg said. "And ensuring a viable media landscape, because news and journalism is a public good."
Australia is considering cracking down on the platforms after the U.S. Federal Trade Commission this week fined Facebook a record $5 billion for privacy violations. Then came Russian meddling in the 2016 US presidential election, fake news and the Cambridge Analytica scandal, in which a political data mining firm affiliated with the 2016 presidential campaign of Donald Trump improperly accessed the personal data of as many as 87 million users.
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