On this week’s episode of TheMadTech Podcast, Reuters’ Programmatic Lead Osita Osadebe joins ExchangeWire’s Anne-Marie Sheedy and Mat Broughton to discuss the potential impact of the EU’s DMA legislation. They also get to the core of Apple’s latest privacy measures, and look at the future of news brands in light of the latest Buzzfeed News cuts.
DMA antitrust legislation
What will the proposed Digital Markets Act do to reign in the power of big tech?
The EU has this week revealed its strongest legislative effort yet to bring balance to the tech world, and increase the ability of smaller players to compete.
Smaller scale cases such as the €50m worth of antitrust fines accumulated by Apple in the Netherlands over their lack of compliance with third-party payments for dating apps have made the tech headlines, but the DMA is set to be the first real set of reforms to address the wider issues across the industry.
The Act will define companies such as Meta, Apple and Google as ‘gatekeepers’, and demand their interoperation with smaller companies to create and ‘open and contestable’ market. Lack of cooperation will lead to steep fines, ‘up to 10% of turnover’.
Apple: ad-industry blocker, or adtech player?
Should the ad industry be concerned by the latest privacy features rolled out by Apple?
After Ad Tracking Transparency knocked nearly $10bn of revenue from Facebook, Twitter, Snap et al - the industry fears the new measures, Private Relay and Hide my Email will have a similar impact.
As the ad industry holds its breath to see what Apple’s moves will do, the San Cupertino-based tech giant is sitting back and watching its own ad business blossom. Since 2017, Apple ad revenues have grown from $300m to $4bn, and analysts believe Apple could be sitting on a potential $10bn ad business. Ad revenues account for only 2% of Apple’s vast profits, but seem to be an increasingly lucrative part of the business.
Buzzfeed News under pressure
With the news that Buzzfeed is being pressed to shut down its newsroom, how can newsbrands continue to prove their worth to advertisers and maintain commercial viability?
Buzzfeed set out its News stall in 2010, going on to create Pulitzer-winning journalism and breaking exclusives. But recently News has become seen as an albatross around the neck of Buzzfeed, losing $10m per year.
Sharp cuts have been made in recent years, and CEO Jonah Peretti has been encouraged to cut his losses and shutter the News division, which counts 100 staff, entirely. Buzzfeed stock rose 6% as the news of further cuts, but the move was met with resistance and the BuzzFeed Union is set to strike.