The European Union has been working on its Digital Markets Act – the latest legislation attempting to regulate big technology companies – for some time. The final version of the law may be unveiled today (24 March) according to the Financial Times, reporting on the negotiations between the European Commission, European Parliament and EU member states.
It claimed that the act will focus on technology companies with a market cap of at least €75bn ($82.3bn) who run a core online ‘platform’ and have at least 45,000 active users. That means the likes of Google, Apple, Meta and Amazon, although Spotify (current market cap: $28.5bn) would seemingly not be covered.
However, Spotify is likely to be a beneficiary of the legislation as a service provided through the app stores and devices of those larger tech firms – even if most talk about the act is focusing around search engines, web browsers and messaging apps.
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