10.6 C
New York

EU to Monitor Influencers’ Commercial Practices on Social Media.

The European Commission and national authorities of the Consumer Protection Cooperation Network have launched a social media sweep to identify misleading testimonials and endorsements by influencers. The sweep aims to protect consumers from unfair commercial practices and to ensure transparency and reliability in the online business. The sweep will also feed into the Digital Fairness fitness check, which is a comprehensive assessment of whether new legislation is necessary to make digital markets as safe as offline markets. The Commission has also created an Influencer Legal Hub, a platform that provides guidance and resources to help content creators follow the EU rules on fair commercial practices.

The European Commission announced that it will intensify its surveillance of influencers’ commercial practices on social media platforms. The move aims to protect consumers from misleading testimonials and endorsements, and to ensure fair competition in the digital economy.

According to Statista, influencer marketing is expected to reach a global value of €19.98 billion in 2023, making it a significant pillar of the online business. However, many influencers do not comply with the EU consumer law, which requires them to disclose advertisements in a transparent manner and to provide reliable information to their followers.

To address this issue, the Commission and national authorities of the Consumer Protection Cooperation Network will screen online posts in the coming weeks to identify cases of non-compliance.

The result of this social media sweep will feed into the Digital Fairness fitness check, which is a comprehensive assessment of whether new legislation is necessary to make digital markets as safe as offline markets.

In addition, the Commission launched an Influencer Legal Hub, a platform that provides content creators, influencers, advertisers and agencies with basic guidance on how to follow the EU rules on fair commercial practices. The platform offers video trainings, checklists and links to national authorities that can help influencers understand their legal obligations and rights.

Commissioner for Justice, Didier Reynders, said: “The business of influencers is thriving and a lot of consumers – often young people or even children – trust their recommendations. This business model, however, also comes with legal obligations. Influencers too must follow fair commercial practices and their followers are entitled to transparent and reliable information. Our Influencer Legal Hub will be a big help for all actors in the industry to understand the rules. I call on influencers to play by them.”

The Commission’s initiative is part of its broader strategy to ensure a high level of consumer protection in the EU. The Commission also adopted the New Deal for Consumers in 2018, which aims to modernise consumer law, strengthen enforcement and redress mechanisms, and empower consumers in the digital age.

Subscribe

Related articles

Big Data Analytics: How It Works, Tools, and Key Challenges

Your business runs on data—more than you may realize....

Top 7 Mobile App Development Mistakes and How to Avoid Them

Mobile app development brings many chances but also has...

Microsoft Patents Speech-to-Image Technology

Microsoft has just filed a patent for a game...

OpenAI’s Swarm Framework: AI Automation and Job Concerns

Swarm is the new experimental framework from OpenAI and...

Author

editorialteam
editorialteam
If you wish to publish a sponsored article or like to get featured in our magazine please reach us at contact@alltechmagazine.com