Usercentrics, a leading provider of consent management solutions, has reported on shockingly low rates of GDPR compliance in multiple industries in the European Union. This lack of attention on data privacy and user consent is about to get even riskier with Digital Markets Act (DMA) enforcement beginning March 6, 2024.
No consent, no revenue: The Digital Markets Act’s wake-up call for advertisers
While the DMA most directly affects the six “gatekeeper” companies designated by the European Commission — Alphabet, Amazon, Apple, ByteDance, Meta and Microsoft — it’s often overlooked that it will also affect all companies with digital operations in the EU that rely on those six tech giants’ platforms and services.
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“The DMA will be a big wake up call for a lot of companies. It basically means: no consent, no revenue. It’s not just an additional regulation requiring companies with business in the EU and EEA to obtain explicit consent from users before processing their personal data. On top of it, gatekeepers will likely require companies using their services for advertising, ecommerce, analytics and more to adopt compliant consent management processes”, explains Donna Dror, CEO of Usercentrics.
Failing to comply with the Digital Markets Act is a very expensive risk for the gatekeepers. However, for third parties, failing to comply is no less risky, as they would face the loss of data, audience and revenue that would come with losing access to the user base, data and services Google, Meta, and others provide.
Save your advertising revenue and analytics data: Usercentrics gets you ready for the DMA
The good news is that Digital Markets Act compliance and meeting the gatekeepers’ requirements is easy to achieve. With Usercentrics and Cookiebot Consent Management Platforms (CMPs), companies can inform users about what data is collected, for what purposes, and with whom it may be shared. Then they can collect and store valid consent, which they can signal to gatekeepers.
The CMPs’ make DMA compliance effortless by enabling direct integrations with leading web and ecommerce content management systems (CMS), including WordPress, Magento, HubSpot, Joomla, and Shopify. Additionally, they provide support for app and TV platforms, as well as cross-platform frameworks like iOS, Android, Unity, and React.
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