ACCC says Meta still the biggest social media player with TikTok, Twitter and Snapchat competition ‘weak’

The Australian competition watchdog has determined that Facebook’s parent company, Meta, holds significant market power in social media services and that, despite Meta’s best efforts to downplay its influence, platforms like TikTok don’t pose strong competitive constraints to it.

This assessment was handed down in the latest digital platforms inquiry report from the Australian Competition and Consumer Commission (ACCC) published today.