WASHINGTON: Pressure is rising on Big Tech firms, signaling tougher regulation in Washington and elsewhere that could lead to the breakup of the largest platforms. But you’d hardly know by looking at their share prices.
Shares in Apple, Facebook, Amazon and Google parent Alphabet have hovered near record highs in recent weeks, lifted by pandemic-fueled surges in sales and profits that have helped the big firms extend their dominance of key economic sectors.
The Biden administration has given signs of more aggressive regulation with appointments of Big Tech critics at the Federal Trade Commission.
But that has failed to dent the momentum of the largest tech firms, despite tough talk and antitrust litigation in the United States and Europe, with US lawmakers eyeing moves to make antitrust enforcement easier.
Big Tech critics in the United States and the EU want Apple and Google to loosen the grip of their online app marketplaces; more competition in a digital advertising market dominated by Google and Facebook; and better access to Amazon’s e-commerce platform by third-party sellers.
One lawsuit tossed out by a judge but in the process of being refiled could force Facebook to spin off its Instagram and WhatsApp platforms, and some activists and lawmakers are pressing for breakups of the four tech giants.
All four have hit market valuations above $1 trillion, with Apple over $2 trillion. Alphabet shares are up some 80 percent from a year ago, with Facebook up nearly 40 percent and Apple almost 30 percent. Amazon shares are roughly on par with last year’s level after breaking records in July.
Microsoft, with a $2 trillion valuation, has largely escaped antitrust scrutiny, even as it has benefitted from the cloud computing trend.
The surging growth has stoked complaints that the strongest firms are extending their dominance and squeezing out rivals.
Yet analysts say any aggressive actions, in the legal or legislative arena, could take years to play out and face challenges.
“Breakup is going to be nearly impossible,” said analyst Daniel Newman at Futurum Research, citing the need for controversial legislative changes to antitrust laws.
Newman said a more likely outcome would be multibillion-dollar fines that the companies could easily absorb as they adjust their business models to adapt to problematic issues in a fast-moving environment.
“These companies have more resources and know-how than the regulators,” he said.
Dan Ives at Wedbush Securities said any antitrust action would likely require legislative change — unlikely with a divided Congress.
“Until investors start to see some consensus on where the regulatory and law changes go from an antitrust perspective, it’s a contained risk, and they see a green light to buy tech,” he said.
Other factors supporting Big Tech include a massive shift to cloud computing and online activities that allow the strongest players to benefit, and a crackdown in China on its large technology firms.
“The China regulatory crackdown has been so massive in scale and scope, it has driven investors from Chinese tech to US tech,” Ives said.
“Even though there is regulatory risk in the US, it pales in comparison to the crackdown we’re seeing from Beijing.”
Analysts say the big tech firms are also well-positioned to deal with tougher regulations.
Tracy Li of the investment firm Capital Group, in a recent blog post that the tech giants face major risks in regulation around privacy, content moderation and antitrust.
“Concerns related to privacy or content may actually strengthen, rather than weaken, the moats of the largest platforms,” Li said.
“These companies often boast well-established protocols and have more resources to tackle privacy and legal matters.”
Other analysts point to the swift movement by tech firms to adapt their business models in contrast to the slow efforts to regulate.
Facebook, for example, is adapting to changing conditions by moving into the “Metaverse” of virtual and augmented reality experiences, noted Ali Mogharabi at Morningstar.
Mogharabi said Facebook’s vast data collected from its 2.5 billion users gives it the ability to withstand a regulatory onslaught.
“Antitrust enforcement and further regulations pose a threat to Facebook’s intangible assets, data,” the analyst said in a July 29 note.
“However, increased restrictions on data access and usage would apply to all firms, not just Facebook.”
Independent analyst Eric Seufert said in a tweet that “regulatory changes will have a significant impact on Facebook’s business, but the sheer scale of Facebook and the growth trajectory of digital advertising ameliorate that. Facebook’s gold mine is far from depleted.”
Newman said the large tech firms have expanded during the pandemic by delivering innovative services, extending a trend that has seen the strong get stronger.
“These platforms have created better experiences for consumers, but it is extremely difficult for new entrants,” he said.
For investors, Newman added, “that means no one is creating revenue and profit growth faster.”
Big Tech rolls on as investors shrug off regulatory pressure
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Big Tech rolls on as investors shrug off regulatory pressure
- Shares in Apple, Facebook, Amazon and Google parent Alphabet have hovered near record highs in recent weeks
- Big Tech critics in the United States and the EU want Apple and Google to loosen the grip of their online app marketplaces
YouTube marks 20 years with spotlight on MENA creator economy
- Platform reveals that Saudi-based channels earning 7 figures or more increased by 40 percent year over year, with total reach of 20 million adults
- YouTube says it remains committed to the region and its content creators as it enters third decade
LONDON: YouTube has released new data highlighting the rapid growth of the content creator economy in the Middle East and North Africa, as the platform marks its 20th anniversary.
The data, published on Wednesday, shows a year-on-year increase in the number of channels earning seven figures or more in revenue in Saudi Arabia, the UAE, and Egypt.
“As YouTube turns 20, we celebrate the phenomenal work of creators across MENA and their role in driving the region’s popular culture,” Javid Aslanov, head of YouTube in MENA, said.
“These creative entrepreneurs skillfully leveraged YouTube’s diverse formats to share their voices and also build thriving businesses that reach global audiences. We’re proud to be able to support them in their journey and can’t wait to see what the next 20 years holds.”
YouTube was launched in 2005, with the first video — “Me at the Zoo” featuring co-founder Jawed Karim — uploaded on April 23 of that year. Since then, the platform has hosted an estimated 14 billion videos, according to a January report from the University of Massachusetts.
Beyond sheer volume, YouTube has grown into a global hub for culture, learning, and entertainment. The platform now shares revenue with over 3 million creators, artists, and media partners worldwide, including more than half a million who started their channels over a decade ago.
In the MENA region, YouTube’s reach continues to expand. As of May 2024, the platform reached 20 million people aged over 18 in Saudi Arabia, 7.5 million in the UAE, and over 1.7 million people aged 25–54 in Qatar.
According to YouTube’s latest figures, as of December 2024, the number of channels earning seven figures or more in the Kingdom increased by 40 percent year over year.
Egypt also saw a 60 percent increase in channels reaching seven-figure annual revenues, while the UAE experienced a 15 percent growth during the same time period, reflecting YouTube’s support for its partners and contributions to the creator economy.
Globally, YouTube has paid out $70 billion to creators, artists, and media companies over the past three years.
The data also underscores the international appeal of MENA creators. Over 95 percent of watch time for channels based in the UAE comes from outside the country, alongside more than 60 percent for Egyptian channels.
YouTube introduced its Arabic-language interface in 2010 to broaden access across the region, and in 2012 launched the YouTube Partner Program in MENA, allowing creators to monetize their content.
Over the years, the platform has amplified a wide range of regional voices — from Saudi satirical shows such as “Noon Al-Niswa” by Hatoon Kadi and the animated series “Masameer,” to Egypt’s Mohamed Abdelhafez, whose agriculture-focused channel has racked up over 100 million views.
Some of MENA’s most memorable YouTube moments include Queen Rania of Jordan receiving the YouTube Visionary Award, the Harlem Shake at the Pyramids of Egypt, AboFlah’s record-breaking fundraiser for refugees, and Thamanyah’s Guinness World Record podcast episode on relationships.
As it enters its third decade, YouTube said it will continue to invest in supporting the region’s content creators — key players in the fast-growing MENA creator economy.
UK Jewish group investigates members for condemning Israel’s renewed Gaza offensive
- Board of Deputies of British Jews suspends vice chair, launches procedures against 35 other members
- Suspension follows an open letter strongly criticizing Israel for breaking ceasefire
LONDON: A major body representing Jews in the UK has suspended one of its senior figures and is investigating dozens of others after they signed a letter condemning Israel’s renewed offensive in Gaza.
The Board of Deputies of British Jews said it had launched the probe after “multiple complaints” in response to the letter published in the Financial Times last week.
The letter, signed by 36 members of the group, said they could not “turn a blind eye or remain silent in the face of this renewed loss of life and livelihoods” in Gaza.
Among the signatories was Harriett Goldenberg, vice chair of the organization’s international division. Members of the group’s executive committee voted to suspend her while the complaints procedure is underway, a statement on Tuesday said.
The Board of Deputies is the largest representative body of Jews in the UK with 300 deputies elected by synagogues and communal organizations.
The group previously criticized the UK government for putting pressure on Israel over the military campaign in Gaza that has killed more than 51,000 people.
The recent letter represented a significant break from the official position of the Board of Deputies, which has offered support for Israel since the Hamas attack on Oct. 7, 2023 that killed 1,200 people and led to the capture of 250 hostages.
Board of Deputies President Phil Rosenberg said: “We take alleged breaches of the code of conduct very seriously.
“The Board of Deputies is clear: Only our democratically elected honorary officers and authorized staff speak on behalf of the organization.”
Goldenberg told the Financial Times last week that British Jews run the risk of being complicit if they do not speak up.
“In Jewish history, silence is not a good thing,” she said.
The letter condemned Israel for breaking a ceasefire in Gaza, which had led to the killing of “hundreds and hundreds more Palestinians.”
It also said this “most extremist” Israeli government was openly encouraging violence against Palestinians in the West Bank.
SABCO Media names Omar Othman new chief executive officer
- Omani media group says appointment part of strategic shift toward regional expansion
LONDON: SABCO Media, one of Oman’s leading media groups, has appointed Omar Othman as its new chief executive officer.
The group — which includes SABCO Art, SABCO Media and SABCO Press — operates across radio broadcasting, digital media, TV production and outdoor advertising. It described the appointment as a “key milestone” in its strategic expansion as it enters “a new phase of innovation and growth.”
Sayyid Khalid bin Hamad Al-Busaidi, chairman of SABCO Media, said that Othman’s “diverse expertise across media and advertising industries positions us to embark on a new chapter — one that elevates our products and services to new heights, in line with the rapid evolution of the sector.”
“We are confident this will further enrich the media and advertising landscape in Oman and the wider region,” he added.
Omar Othman brings more than 20 years of leadership experience in media, digital transformation and strategic partnerships. He has held senior roles at prominent regional media organizations including Al Aan TV, OSN and MBC Group. Throughout his career, Othman has played a pivotal role in content development, digital expansion, and establishing impactful commercial partnerships across television, digital streaming platforms and integrated media services.
Othman said: “I am excited to join SABCO Media at such a pivotal moment in its journey. With its rich legacy and dynamic team, we are poised to reshape storytelling, brand-building and audience engagement in the region. I look forward to leveraging my regional experience in partnerships and business growth to support the group’s ambitious expansion strategy.”
His appointment signals a strategic shift as SABCO Media aims to play a leading role in the Middle East’s evolving media landscape. The company is part of SABCO Group, established in 1977, with investments spanning real estate, perfumes, sports, media and other industries.
SRMG, Naif Alrajhi Investment to power regional media and advertising ecosystem
- Partnership with Phi Advertising enhances Out-of-Home (OOH) advertising by combining Phi and SMS assets, offering diversified across the MENA region
- Partnership with Veyron Marketing to elevate the regional landscape by providing clients access to SMS’s dynamic portfolio of innovative digital formats, branded content, and experiential advertising solutions
RIYADH: SRMG, the MENA region’s largest integrated media group, and Naif Alrajhi Investment, a leading Saudi investment firm with a diversified portfolio and a track record of leading portfolio companies in the media sector regionally, announced Wednesday a strategic partnership designed to advance innovation and growth across the media and advertising industries. This partnership focuses on two strategic pillars: Expanding Phi’s Out-of-Home (OOH) advertising footprint and partnering with Veyron Marketing to drive innovation in media and marketing.
The agreement brings together SRMG’s newly launched SRMG Media Solutions (SMS), a next generation data-driven advertising entity representing a portfolio of renowned brands including Asharq Al-Awsat, Asharq News and Asharq Business with Bloomberg, Arab News, Hia Magazine and Thmanya, with Naif Alrajhi Investment’s diversified assets.
Through the partnership, Phi, a key player in the Middle East’s Out-of-Home (OOH) advertising sector, offering a dynamic range of solutions from traditional billboards to cutting-edge digital displays, will amplify its reach, supported by SMS’s cross-platform content distribution across digital, social, TV, and print channels.
Moreover, Veyron Marketing, a leading player in Saudi Arabia’s advertising industry, renowned for its innovative marketing solutions and robust media planning and buying capabilities, will gain access to SRMG Media Solutions’ (SMS) dynamic portfolio of advertising offerings, including innovative digital formats, branded content, and experiential advertising.
The partnership is underpinned by a shared vision to foster innovation, expand digital capabilities, and unlock new commercial opportunities for both parties. Together, SMS and Veyron bring a deep understanding of the Saudi market, further strengthened by SRMG’s extensive global reach enabling them to drive long-term value for advertisers.
SRMG CEO Jomana R. Alrashid stated, “This partnership is a convergence of vision, impact and capability. By uniting Phi’s comprehensive presence and Veyron’s operational expertise, combined with SRMG Media Solutions’ services and reach of over 170 million users, we are creating a dynamic ecosystem that empowers brands to engage audiences with unmatched relevance and impact.”
Naif Saleh Alrajhi, Chairman & CEO of Naif Alrajhi Investment, commented, "This partnership reflects our shared commitment to delivering innovative advertising solutions, creating exceptional opportunities for both regional and global advertisers. By partnering with SRMG and SRMG Media Solutions with our own assets, we are positioning brands to engage with audiences in new and meaningful ways. The strength of Naif Alrajhi Investment lies in our diversified portfolio and strong presence across key sectors, which allows us to offer unique, high impact opportunities that go beyond traditional media. This Partnership not only leverages the incredible growth in Saudi Arabia but also aims to shape the future of the media and marketing landscape globally."
The partnership underscores SRMG’s expansion through SMS, which leverages a global audience of over 170 million users across platforms such as Asharq News, podcasts, and experiential activations. This, coupled with Naif Alrajhi Investment’s diversified portfolio, positions the parternships to drive economic growth and redefine regional advertising standards.
For brands seeking to leverage this partnership, visit https://srmgms.com/ or contact partner@srmgms.com.
‘No one else will’: Sudan’s journalists risk all to report the war
- According to Sudan’s journalist union, at least 28 reporters have been killed since conflict began in April 2023
- Journalists say huge efforts are needed to inform the world about the horrors unfolding in Darfur, where accounts of sexual violence, ethnic massacres, and mass displacement persist
CAIRO: On a mountain near Sudan’s border, journalists climb rugged slopes, phones held high, hoping to catch a faint signal from neighboring Chad to send stories amid the war’s two-year communications blackout.
Journalists say efforts like these are their only way to tell the world about the horrors unfolding in Darfur, where accounts of sexual violence, ethnic massacres and mass displacement continue to emerge.
Since fighting erupted between the army and the paramilitary Rapid Support Forces (RSF) in April 2023, at least 28 reporters have been killed, according to Sudan’s journalist union.
Dozens more have been detained and tortured, while many have been displaced and cut off from electricity, water and Internet.
Noon, a 35-year-old freelance journalist who requested a pseudonym for her safety, said she was forced to flee the West Darfur capital of El-Geneina after reporting on ethnically motivated mass killings committed by the RSF and its allied militias in 2023.
Her stories on the massacres, where UN experts say up to 15,000 mostly Massalit people were killed — leading to genocide accusations against the RSF — made her a target.
“They raided my family’s house. They took all my equipment, my cameras, everything,” she said.
By the third raid, she knew she had to go, and fled with her family to the eastern state of Gedaref, nearly 1,800 kilometers (1120 miles) away.
But even there, she was not safe.
While reporting in a displacement shelter, she said she was arrested by the army, accused of collaborating with the RSF and forced to sign a pledge to obtain government approval on every story.
According to Reporters Without Borders, since the start of the war more than 400 journalists have fled the country, which last year was second only to Gaza in the Committee to Protect Journalists’ tally of reporters killed.
Yet some remain on the ground, working in secret with nothing to their name.
In the North Darfur town of Tawila, where the UN says 180,000 survivors of nearby RSF attacks are sheltering, 30-year-old photojournalist Ibrahim works undercover to report on those trapped between famine and brutal violence.
“No one can know what I do,” Ibrahim, who asked to use a pseudonym to protect his identity, told AFP.
“If they find out, they’ll arrest me or take my phone,” he said.
Last July, RSF fighters detained him in El-Fasher and accused him of being an army spy. He said they tortured him for five days and confiscated his equipment, documents and money.
Since then, he has sent his family out of Darfur and relocated to Tawila, leaving his cameras behind. His mobile phone is all he has left.
Even before the war, Sudan was a hostile environment for journalists, consistently ranking near the bottom of the Reporters Without Borders’s Press Freedom Index.
Since the fighting began, conditions have only worsened. Many journalists have been forced to flee, while others remain trapped across the country, struggling to survive.
In the central state of Al-Jazira, the country’s breadbasket prior to the war, veteran reporter Youssef, 62, now raises goats and grows sorghum to support himself.
“The last salary I received was at the beginning of 2024,” he told AFP by phone from state capital Wad Madani.
“My newspaper moved operations to Cairo, but I still send them reports — when I can get a signal.”
Youssef, whose name has also been changed, lost all contact with his editors and the outside world for months while the RSF controlled the city.
In February 2024, fighters stormed his home.
“They tied my hands, blindfolded me, shackled my feet,” he recalled. “No food. No toilets. I was detained for three days.”
He said when he told those interrogating him he was a journalist, a fighter said: “That is the biggest crime.”
He was freed only after a local community leader signed a guarantee pledging that Youssef would remain under house arrest. He did not leave until the army recaptured Wad Madani in January.
Both Youssef and Ibrahim say they have received no protection from local or international media organizations.
Still, Ibrahim continues, turning a coffee shop in Tawila — powered by a single public solar panel — into a makeshift newsroom.
“Who else will tell the world what’s happening in Darfur if we leave?” he told AFP, crouching to reach his phone, plugged into an overloaded extension cord.
“No one else will tell these stories. No one can imagine the atrocities happening here.”
