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Meta denies market power in digital advertising amid Treasury competition push

Meta has pushed back against a Treasury request for feedback on whether social media should be prioritised under proposed digital competition rules.

Laurel Henning and John Buckley
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While Treasury initially announced it would focus first on advertising technology and app store markets, it also flagged that it was seeking comment on whether social media services should be similarly prioritised. EPA/John Mabanglo.

Meta has sharply criticised a Treasury request for feedback on whether social media services should be prioritised in the development of new digital competition rules, claiming it does not hold market power in digital advertising.

In a 16-page submission to Treasury, obtained by Capital Brief, Meta argued there is no evidence of “competitive harm or a history of regulatory investigations” into social media services to justify competition regulations specifically targeting those platforms.

“This is in stark contrast to the well-documented evidence of competition law associated with app marketplaces and ad tech services in Australia and globally,” Meta’s submission said.

Retiring Assistant Treasurer Stephen Jones announced the government’s plans for an ex ante digital competition framework late last year. The proposed framework aims to curb anti-competitive behaviour among major digital market players.