Kris Cooper reports:
A combined $7.7bn worth of regulatory fines for breaching data privacy laws over ad-targeting practices has been handed out to Alphabet, Amazon, Byte Dance and Meta since the start of 2023, according to a new report.
GlobalData’s Thematic Intelligence: Social Media report explores key technological, macroeconomic and regulatory trends within the social media industry. It outlines that data privacy and human rights are core considerations around the evolving regulation of the social media industry.
While social media is often thought of through the lens of networks like Meta’s Facebook and Instagram, ByteDance’s TikTok and Douyin and Microsoft’s LinkedIn, the report identifies five other overlapping categories of social media. These are discussion forums such as Reddit, media-sharing sites such as YouTube, consumer review networks like TripAdvisor, sharing economy companies like Uber and Airbnb and messaging services like WhatsApp and WeChat.
Read more at The Verdict.