CMA launches digital markets strategy

The Competition and Markets Authority (CMA) will open a market study into online platforms and digital advertising, as part of its digital markets strategy.

Earlier this month, the CMA outlined how it will look to continue protecting consumers in rapidly developing digital markets while continuing to foster innovation. This will include considering concerns regarding the market power of certain sites, and subsequently exploring whether the control that they have over people’s data is making it harder for rivals to compete for business to the disadvantage of consumers.

Other areas of focus in the strategy include policy work to consider a possible “digital markets unit”, as proposed by the Furman Report; a review of the CMA’s mergers approach to digital markets; and international cooperation. Owing to the global nature of the digital economy, the CMA stressed international cooperation and collaboration was key to support innovation and protect consumer interests.

CMA Chairman Andrew Tyrie said: “These are global markets, so we should and will work more closely than before with authorities around the world, as we all consider new approaches to the challenges posed by them.”