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What is the DMA?
The EU's Digital Markets Act (DMA) represents a sweeping new approach to regulating big tech firms. The DMA designates large companies providing “core platform services” (which encompasses app stores, marketplaces, browsers, messaging, search engines, social media, video-sharing, operating systems, cloud services, virtual assistants, connected TV, and advertising) that have a market cap of €75B+ or annual turnover of €7.5B+, as well as 45M+ monthly end-users and 10K+ annual business users in Europe, as “gatekeepers.” Gatekeepers face a host of new requirements focused on limiting their market power and “unfair” competition. Fines for non-compliance could reach up to 10% of a company’s total worldwide sales, and up to 20% for repeat infringements.