The European Digital Markets Act: A Revolution Grounded on Traditions

Extract

I. Introduction

The last three years have seen a legislative acceleration in tech regulation in Europe and the emergence of an EU platforms law.¹ In the context, the European Commission tabled a very significant Digital Markets Act proposal in December 2020.² If adopted by the EU legislature in 2022, it could be applicable to the European activities of Big Tech firms in 2023. This new Regulation aims to increase market contestability and fairness in the digital economy. It will apply to firms that are considered ‘gatekeepers’ in the provision of one or more of eight types of digital services (including intermediary services such as app stores and marketplaces, search engines, social networks, and operating systems), the so-called Core Platforms Services (CPSs). Those gatekeepers will be subject to obligations and prohibitions drawn from a list of 18 ‘do’s and don’ts’.³ Once adopted, this new Regulation may have major, maybe revolutionary, implications on some of the business models of the largest firms worldwide. However, the policy choices which have been made by the Commission, sometimes not very clearly, in the course of designing and formulating the proposed DMA, are not so revolutionary as one might be led to believe.