In an article from Martech from the 5th July 2023 by Constantine von Hoffman he states that Facebook and other tech giants will be hard-pressed to monetize their first-party data in the European Union, following a ruling yesterday (July 4th 2023) by the EU’s top court that shot down Facebook’s “legitimate interest” argument for personalized ads. 

No need to worry as yet as it goes on to state: 

While the ruling only applies to Germany, a new digital competition law will soon impose similar rules across the EU. Starting in March of next year, the Digital Markets Act requires services with at least 45 million monthly active EU users to get user consent to:

• Process personal user data, 
• Combine it with data from other platforms 
• Cross-use data from one service to another. 

Read the full article here