{"id":105657,"date":"2021-01-28T01:46:27","date_gmt":"2021-01-28T01:46:27","guid":{"rendered":"https:\/\/fin2me.com\/?p=105657"},"modified":"2021-01-28T01:46:27","modified_gmt":"2021-01-28T01:46:27","slug":"australia-takes-on-google-advertising-dominance-amid-wider-media-shakeup","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/australia-takes-on-google-advertising-dominance-amid-wider-media-shakeup\/","title":{"rendered":"Australia takes on Google advertising dominance amid wider media shakeup"},"content":{"rendered":"

SYDNEY (Reuters) – Australia announced on Thursday it may let internet users choose which data they give to Big Tech companies like Google, limiting the internet giants\u2019 ability to access users\u2019 online histories to cross-sell products.<\/p>

FILE PHOTO: The logo of Google is seen on a building at la Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. REUTERS\/Charles Platiau<\/figcaption>

The Australian Competition and Consumer Commission\u2019s (ACCC) new proposals aim to shakeup digital advertising and challenge the dominance of Google and Facebook Inc.<\/p>\n

The regulator\u2019s Thursday statement also said the country might introduce a system of anonymised internet user identifications so advertisers can monitor which other advertisements their prospective customers click.<\/p>\n

The proposals add a new element to the antitrust regulator\u2019s campaign to check the power of the online behemoths in the country\u2019s struggling media market.<\/p>\n

Already the government plans to make the so-called Big Tech players pay media outlets for content which drives traffic to their websites, a measure the internet companies oppose. The digital advertising proposals would seek to lessen those companies\u2019 grip on the A$3.4 billion ($2.6 billion) online ad market.<\/p>\n

\u201cThere is a real lack of competition, choice and transparency in this industry,\u201d said ACCC Chairman Rod Sims in a statement, which estimated Google\u2019s share of Australian advertising revenue between 50% and 100%, depending on the service.<\/p>\n

\u201cThese issues add to the cost of advertising for businesses, which will ultimately impact the prices paid by consumers,\u201d Sims added.<\/p>\n

Letting internet users choose which internet platform they share their search data with may promote competition between suppliers of online advertising and lessen the competitive advantage of large platforms, the ACCC said in its 222-page interim report on the digital advertising market. A final report is scheduled to be sent to the government in August.<\/p>\n

Representatives for Google and Facebook in Australia were not immediately available for comment.<\/p>\n

Australian Treasurer Josh Frydenberg said in a statement that the government \u201cnotes the ACCC\u2019s concerns over competitiveness and the continued dominance of tech giants\u201d but did not say whether he supported the proposals.<\/p>\n

\u201cWe need to ensure our regulatory frameworks keep pace with the changes being driven by digital platforms,\u201d the statement said.<\/p>\n

($1 = 1.3068 Australian dollars)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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