The Digital Markets, Competition and Consumers Act 2024 is now on the statute book and will have a profound impact on the commercial media landscape, helping ensure its long term sustainability.
At Second Reading of the Bill in December 2023, Guy – who has played a key role in the legislation - explained why it is so vital:
“This legislation is hugely important because it delivers on so many different policy fronts. It is a policy for economic growth because, with the creative economy at its heart, it will open up digital markets, allowing UK businesses to innovate and grow. It is a policy for fairness, ensuring that the giant, unaccountable tech platforms deal with publishers on a level playing field. It corrects a dreadful imbalance in market power, which springs from the fact that, essentially, two foreign companies now take 80% of UK digital advertising but do not agree fair and reasonable terms for the content that powers their operations.”
The full text of the Second Reading debate is here.
ENDS
