CMA Accepts Google's Updated Web Privacy Approach on Third-Party Cookies, Boosting Ad Tech Stocks

Jul 22, 2024, 07:12 PM

Google has proposed an updated approach to web privacy through its Privacy Sandbox initiative, which has been accepted by the UK Competition and Markets Authority (CMA). This proposal aims to address concerns related to third-party cookies. As a result, shares of companies like Trade Desk, Criteo, and Magnite have seen an uptick. The proposal was detailed in a blog post. Industry experts believe that Google and Meta offer the best return on investment in the advertising sector, with Google being a good option for brands with strong awareness, while Meta is suitable for those with slightly less brand equity. The Trade Desk CEO had previously commented in the Q1 24 Call in May that it would be a strategic mistake for Google to deprecate cookies.