(Reuters) – The UK government should introduce new measures to check the dominance of tech giants Google and Facebook in digital advertising, Britain’s competition watchdog said on Wednesday.
The UK’s Competition and Markets authority (CMA) said while the services provided by the U.S.-based companies were “highly valued” by consumers and small businesses to reach bigger audiences, they took up nearly 80% of UK’s digital ad spending of 14 billion pounds ($17.34 billion) in 2019.
“While both originally grew by offering better services than the main platforms in the market at the time, the CMA is concerned that they have developed such unassailable market positions that rivals can no longer compete on equal terms,” the CMA said. (https://bit.ly/3gjaTbV)
(Reporting by Pushkala Aripaka in Bengaluru; Editing by Shinjini Ganguli)
