Meta Platforms (META) has pushed back against EU regulators, accusing them of unfairly targeting its business model and shifting expectations as it tries to comply with the Digital Markets Act, Reuters reported Friday.
The European Commission recently warned Meta that it could face daily fines of up to 5% of global daily turnover starting June 27 if its revised pay-or-consent model fails to meet compliance standards, Reuters said.
The company's pay-or-consent model, launched in November 2023, gives users a choice between free, ad-supported access with tracking or a paid ad-free experience.
The commission ruled this setup breached the Digital Markets Act through November 2024 and is still evaluating whether Meta's subsequent tweaks are adequate.
"We are confident that the range of choices we offer people in the EU doesn't just comply with what the EU's rules require - it goes well beyond them," a Meta spokesperson told Reuters.
The commission maintains that Meta has only made limited changes to its pay-or-consent model rolled out last November, according to the report.
Meta did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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