Online platforms will have to become more transparent when trading with business entities, according to a proposal announced by the European Commission. The Regulation will introduce new rules for platforms that will simplify their terms and conditions when determining the major ranking parameters and providing corrective mechanisms.
Advertising and media agencies work closely with platforms such as Google and Facebook, and they have to rely on fair, transparent and balanced market practices. The EACA therefore supports the proposed rules on conditions, ranking and correction.
“Platforms provide a unique environment for brands to reach consumers and markets with relevant advertising. There is a value exchange between the consumers of platforms who enjoy their functions, information, and utility; platform owners who build their businesses on advertising revenues; and brands who provide monetization in support of their need to advertise. To maintain a trust-based relationship, platforms must increase their transparency and share more metrics with their advertising clients so we can objectively assess the effectiveness of campaigns and consider investment decisions,” said Dominic Grainger, President of EACA.
Find out more about the European Commission’s proposal and EACA’s response at eaca.eu.
