CANBERRA, Australia (AP) — The Australian government has released a report that recommends more regulation on the market power of multinational digital platforms including Google and Facebook that would ensure fair deals for other media businesses and more control for individuals on how their data is used.
The Australian Competition and Consumer Commission, the nation’s fair trade watchdog, has spent 18 months investigating the impact of digital search engines, social media platforms, and digital content aggregators on the state of competition in media and advertising services markets. Its report was released on Friday.
Treasurer Josh Frydenberg agreed that regulations had to be strengthened. The government will announce its response to the report by the end of the year.
The U.S. Federal Trade Commission this week fined Facebook a record $5 billion for privacy violations.