Jun. 26 at 7:37 PM
$MYPS $EA $SNAP
Apple to open App Store to competitors in EU
In a post to its developer news site, Apple (AAPL) announced that the European Commission has required the company to make a series of additional changes under the Digital Markets Act. Apple stated: "Today, we're introducing updated terms that let developers with apps in the European Union storefronts of the App Store communicate and promote offers for purchase of digital goods or services available at a destination of their choice.
The destination can be a website, alternative app marketplace, or another app, and can be accessed outside the app or within the app via a web view or native experience.
App Store apps that communicate and promote offers for digital goods or services will be subject to new business terms for those transactions - an initial acquisition fee, store services fee, and for apps on the StoreKit External Purchase Link Entitlement Addendum, the Core Technology Commission.
The CTC reflects the value Apple provides developers through ongoing investments in the tools, technologies, and services that enable them to build and share innovative apps with users. Music streaming apps on the App Store in the European Economic Area wanting to use the Music Streaming Services Entitlement can use these options."
App developers and other companies that may be impacted by Apple's changes include, Match Group (MTCH), Spotify (SPOT), Roblox (RBLX), Duolingo (DUOL), Bumble (BMBL), AppLovin (APP), Take-Two (TTWO), Playstudios (MYPS), Electronic Arts (EA) and Snap (SNAP).
