PYMNTS.com March 20, 2024
Under the EU’s Digital Market Act (DMA), which is intended to increase competition in the digital economy, Big Tech innovations — coming from both the U.S. and abroad — are finding themselves reshaped as companies scramble to comply with the new set of regulations which went live earlier this month (March 7).
European Union antitrust chief Margrethe Vestager has warned both Meta and Apple about their product pricing structures, per a Tuesday (March 19) report.
In response, social media giant Meta has offered to almost halve its monthly subscription fee for Facebook and Instagram in order to address concerns from European privacy and antitrust regulators.
The proposed change is to Meta’s fee model supporting its no-ads subscription service in Europe...
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