With the passing time, the modern day users are often seen relying on Tech giants like Google or Facebook along with their products like YouTube and Instagram. All thanks to the growing ads over these platforms that tend to bombard with so many advertisers. However, as per the interim report of Watchdog, these products are now hurting the modern day consumers in a big way. As per the same report, the companies like Facebook and Google seemed to have earned huge amount of money with the display advertising revenue.
Google seems to have paid around one billion Pounds to be installed like a search engine over mobile services, all thanks to the huge amount of payments that are put over Apple. The companies are seen adding the strength of their dominance with the greater access to the market data like personal data collection for ad targeting with a majority of people are seen forcing the share considerable amounts of personal data like a condition with the help of using the services and the privacy settings that tend to remain difficult to access.
As per the reports, the dominance of Facebook and Google ads seemed to have added up the cost of the products and services like the flights, insurance and electronics to name a few. All thanks to the end result of cost of ads that are also added in these services and products pushed through these two sites. The reports also suggest that the companies relying on these two tech giants have also lost ideas from their potential competitors. We know a majority of people tend to visit social media platforms on the web just to find out deals moving around in the form of ads.
We know that with digital ads, the big businesses gets up a good boost from sites like Facebook and Google. This in turn makes the process of building pictures complex in this market. The companies and businesses relying on the digital ads carried out by the tech giants rely more on the personal data and the way people monetise it. On the other side, the vice president of Google feels that the rise of digital ad has helped companies to prosper of different sizes in the west and at the same time, it supports the sites that people love and know them to get their revenues on time.
Similarly the spokesperson of Facebook seemed to have commented saying that we are completely committed to engage in the consultation process around the preliminary report of CMA and it would tend to offer a number of benefits the technology would offer and put the relevant ads to millions of people along with small businesses in the UK. The statement also stated that they also offer the industry-leading tools for helping people control their data, including the ‘Off Facebook Activity’, and transfer the same to the other services with their data transfer tools. However, despite the two companies claim about supporting businesses to grow in their respective markets, yet reports from groups like Watchdog has something else to say.