'Fortnite' Maker's CEO Fears Google Might Still 'Get Away' With High App Store Fees Despite Legal Setback
Portfolio Pulse from Ananya Gairola
Epic Games won an antitrust lawsuit against Alphabet Inc.'s Google, challenging the 30% commission fee on digital purchases in the Android app market. Despite the victory, Epic's CEO Tim Sweeney fears Google may continue imposing high fees, offering 'fake' competition solutions. Sweeney advocates for lower app store fees, citing lower operating costs seen at Epic's own store. The ruling is a significant antitrust decision against a tech giant since the 1990s.
December 18, 2023 | 6:06 am
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NEGATIVE IMPACT
Alphabet Inc. faces a legal setback as Epic Games wins an antitrust lawsuit, potentially affecting Google's app store revenue model.
The antitrust lawsuit win for Epic Games against Alphabet's Google could lead to changes in the app store fee structure, potentially reducing Google's revenue from these fees. The concern expressed by Epic's CEO about 'fake' competition may also lead to increased regulatory scrutiny and pressure on Google to alter its practices, which could negatively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Alphabet Inc. faces a legal setback as Epic Games wins an antitrust lawsuit, potentially affecting Google's app store revenue model.
The antitrust lawsuit win for Epic Games against Alphabet's Google could lead to changes in the app store fee structure, potentially reducing Google's revenue from these fees. The concern expressed by Epic's CEO about 'fake' competition may also lead to increased regulatory scrutiny and pressure on Google to alter its practices, which could negatively impact its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90