Amazon and Microsoft dominate the cloud computing market in the UK, holding between 30% and 40% market shares, which harms competition. The UK Competition and Markets Authority has been urged to consider designating these companies with Strategic Market Status to enable stricter oversight. Conversely, Reddit's second quarter revenue reached USD$465m, largely attributed to advertising growth and AI partnerships, with advertising making up 93% of its total revenue. Google has recently lost an appeal in its legal dispute with Epic Games regarding the app store.
Britain's antitrust regulator states the dominance of Amazon and Microsoft in cloud computing is harming competition, with both firms holding significant shares between 30% and 40%.
Reddit generated USD$465m in advertising revenue in the second quarter, driven by increased investments in advertising and growth in AI partnerships which constituted 93% of its total income.
Amazon and Microsoft's market dominance has led to commercial and technical barriers that complicate customer switching between providers, hence raising concerns over market competition.
The CMA is urged to consider granting Amazon and Microsoft Strategic Market Status in cloud services, allowing for stricter regulatory oversight in the sector.
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