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Facebook agreed to hobble streaming platform in exchange for Netflix data, US complaint claims

( November 18, 2024, 19:52 GMT | Official Statement) -- MLex Summary: Facebook and Netflix entered into an illegal agreement to allocate markets by agreeing that Facebook would cede the video-streaming market to Netflix by hobbling its Watch platform in exchange for Netflix funneling its customers’ data and advertising spend to Facebook, according to a US complaint. “This anticompetitive agreement between Facebook and Netflix decreased consumer choices in video-streaming services while at the same time increasing consumer costs because Netflix was able to charge subscribers more than it would have but for Facebook’s relinquishing the video-streaming market to Netflix,” plaintiffs claimed. See attached file. ...

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