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Online platforms see $325M worldwide revenue threshold in fees proposal by UK online regulator

( October 24, 2024, 10:14 GMT | Official Statement) -- MLex Summary: The UK media regulator Ofcom has opened a consultation on its fees and penalties for the Online Safety Act which it is implementing and enforcing. The act’s regulatory approach is designed to make Ofcom’s working self-funding. This consultation will define what counts as a service’s “qualifying world revenue” as that determines both its fees and any fines. Ofcom proposes that the QWR threshold for paying fees be 250 million pounds ($325 million) and will consider a range of 200 to 500 million pounds ($260 to 650 million) as appropriate. The deadline for responses is Jan. 9, 2025.Statement follows, consultation document attached:...

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