The European Union has published a list of large digital platforms subject to its new Digital Markets Act, including Google, Apple, Facebook, Amazon, and Microsoft. It sets out a list of dos and don'ts for platforms considered “gatekeepers”. The listed companies, considered core platform services, will be subject to new rules under the DMA such as not pre-installing their apps by default on mobile devices or preventing users from uninstalling pre-installed software. The companies will also not be allowed to use data collected on their platforms for targeted advertising without explicit consent. The listed platforms can be fined up to 10% of their annual global turnover for violating the new rules.
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00:00 It's Benzinga and here's what's on the block.
00:02 The European Union has published a list of large digital platforms that will be subject
00:06 to its new Digital Markets Act, including Google, Apple, Facebook, Amazon and Microsoft.
00:12 It sets out a list of do's and don'ts for platforms considered gatekeepers.
00:17 The listed companies considered core platform services will be subject to new rules under
00:21 the DMA, such as not pre-installing their own apps by default on mobile devices or preventing
00:27 users from uninstalling pre-installed software.
00:30 The companies will also not be allowed to use data collected on their platforms for
00:34 targeted advertising without explicit consent.
00:37 The listed platforms can be fined up to 10% of their annual global turnover for violating
00:41 the new rules.
00:42 For all things money, visit Benzinga.com.
00:44 (upbeat music)