“The UK Competition and Markets Authority (CMA) interim report has found that:

• Last year, Google accounted for more than 90% of all revenues earned from search advertising in the UK, with revenues of around £6 billion
• In the same year, Facebook accounted for almost half of all display advertising revenues in the UK, reaching more than £2 billion

‘Big’ is not necessarily ‘bad’ and these platforms have brought very innovative and valuable products and services to the market. But the CMA is concerned that their position may have become entrenched with negative consequences for the people and businesses who use these services every day. A lack of real competition to Google and Facebook could mean people are already missing out on the next great new idea from a potential rival. It could also be resulting in a lack of proper choice for consumers and higher prices for advertisers that can mean cost rises for goods and services such as flights, electronics and insurance bought online. The market position of Google and Facebook may potentially be undermining the ability of newspapers and other publishers to produce valuable content as their share of revenues is squeezed by large platforms…”