Google and Facebook user data worth a fortune. Do they know too much about us?

According to the report of the Polish Economic Institute “How much is our data worth?”, PLN 4.025 billion was the value of Polish users’ data for Google, and PLN 2.196 billion – for Facebook in 2020

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As indicated in the report, Poles are willing to pay to limit companies’ access to their data – “PLN 17 a month for Facebook not having access to data aggregated on the platform and from other sources, and PLN 14 a month for no Google access to our data, including activity on other portals “.

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Do they know too much about us

87 percent PIE survey participants claim that tech companies know too much about us, and 84 percent believes that the activities of technology companies should be subject to greater scrutiny.

“A different model for the functioning of digital platforms is therefore not only possible, but also socially desirable” – believe the authors of the report.

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It was indicated that Poles are reluctant to allow digital platforms to use their data on a large scale.

For the current situation where digital platforms have access to all our data and display personalized ads, the average user would expect monetary compensation. In turn, 63 percent. the interviewed Internet users agree with the postulate of banning the display of advertisements based on the data of private persons.

They pay for protection

At the same time, 38 percent. of respondents are ready to pay for better privacy protection for the websites they use. According to analysts, this may be related to the distrust of these companies – 76 percent does not believe that the paid version of Facebook would better protect their rights. “In the case of Google, it is 73 percent.” – indicated the head of the digital economy team at PIE, Ignacy Święcicki.

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As indicated, revenues from data of Polish users for Google and Facebook are higher than those reported by Polish branches of these concerns for the purposes of statistics and for tax authorities.

The monthly revenue from the data of a single Polish user for Google amounts to PLN 10.16 “- it was announced. PIE estimates that in 2020, the total revenue from the data of all Polish users amounted to as much as PLN 4.025 billion. On the other hand, the monthly revenue from Polish user data for Facebook is PLN 8.52. “According to our estimates – in total, in 2020, the revenue from the data of all Polish users could reach PLN 2.196 billion” – it was assessed.

Gold vein advertising

Analysts noted that in the third quarter of 2021, platforms had 42 percent. participation in the top 10 companies with the highest stock exchange valuation in the world; 10 years earlier, this share was zero.

In the case of Facebook, ad revenue is 98 percent. company revenues (USD 84 billion globally in 2020), and in the case of Google, the share of advertising revenues in the company’s revenues is 80 percent. – about $ 147 billion

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The report shows that 77 percent. of the respondents realize that they pay with their data for free access to online services.

Experts pointed out that the change in the business model of digital platforms’ operation “will be difficult to implement, but seems to be socially expected.” 69 percent of respondents in the PIE survey believe that no website or application should charge for access.

According to experts, the main aim of the new model would be to protect privacy and limit or even eliminate targeted advertising displayed to users. “With a fee of about PLN 10 per month, both parties would benefit – it is an amount lower than declared by the respondents, and at the same time higher than the average monthly revenue of the platforms per user” – concluded Krystian Łukasik, an analyst from the digital economy team at PIE.

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Source:

PAP

About Eric Wilson

The variety offered by video games never ceases to amaze him. He loves OutRun's drifting as well as the contemplative walks of Dear Esther. Immersing himself in other worlds is an incomparable feeling for him: he understood it by playing for the first time in Shenmue.

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