LONDON (AP) — British regulators want new rules to foster competition in digital advertising markets and rein in the industry’s dominant players, Google and Facebook.
The Competition and Markets Authority took aim at the U.S. tech giants in a report Wednesday that recommends the British government adopt a new regulatory approach to governing big digital platforms making money from online ads.
The authority said it was concerned that the two companies have developed “such unassailable market positions” that rivals can’t compete on equal terms, resulting in higher prices for hotels, flights, electronics, insurance and other goods and services that are heavily advertised online.
Google and Facebook accounted for about 80% of the 14 billions pounds ($17 billion) earned by the U.K.’s digital ad industry last year, the authority said. Google controls more than 90% of the U.K.’s 7.3 billion pound search advertising market while Facebook has more than half of