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Deploy consent management to be ready for the Digital Markets Act
Companies that are required to comply with the Digital Markets Act (DMA) will have to do so by March 6, 2024. The DMA affects tech giants operating in the EU, but also many companies that rely on their platforms and services. Download our DMA checklist to learn what you need to know to get ready for Digital Markets Act compliance.
What is the Digital Markets Act (DMA)?
The European Commission developed the Digital Markets Act (DMA) to address challenges with concentrated power and control, and data privacy, in digital markets in the European Union and the UK. The law aims to regulate the influence and dominance of big tech platforms, while fostering innovation and competition and further protecting consumers’ data privacy.
Who has to comply with the Digital Markets Act?
The Digital Markets Act directly affects the designated gatekeepers. However, it also applies to companies that rely on those companies’ platforms and services. The Act affects companies with digital operations in the European Union, European Economic Area, and United Kingdom that process the personal data of EU residents.
The European Commission has designated six big tech “gatekeeper” companies, and the law assigns specific obligations to their operations.
Third-party companies that use the digital platforms and services of the gatekeepers will also likely have Digital Markets Act compliance responsibilities, as they are part of the digital data ecosystem and collect users’ personal data.
What are the Digital Markets Act’s requirements?
The gatekeepers have to increase interoperability, transparency and data access to third parties using their platforms. They also need to ensure data privacy practices in their own operations and those of customers and partners. Gatekeepers cannot engage in anti-competitive practices or demonstrate preference products and services that they or their partners offer.
What benefits come with the Digital Markets Act?
The Digital Markets Act aims to level the playing field. Its goals are to foster competition and innovation for companies in digital markets in the EU. Smaller companies especially, lacking the resources of tech giants, will benefit from increased access and transparency on digital platforms. The Act will also improve data privacy protections and consumer choice for both their user data and product and service preferences.
How does consent management help with Digital Markets Act compliance?
User data is collected and used online throughout the digital ecosystem. Consent management will be required by the DMA for both the gatekeepers and companies that use their platforms and services. This is because the law requires consent to be obtained before collecting user data, whether it’s done by the gatekeepers or third parties.
Gatekeepers will also require companies using their platforms and services for advertising, analytics, etc. to be able to signal that they have obtained consent to continue to access their services.
Losing access to valuable user data, advertising revenue, and more isn’t a risk you can afford to take. Collect valid consent and be ready to signal compliance to companies you rely on. Be ready for the Digital Markets Act and get the best CMP for DMA compliance today.Download our Digital Markets Act checklist now