With GDPR Just Seven Months Away, It’s Time For Publishers To Look Under The Sofa

The Sell Sider” is a column written by the sell side of the digital media community. Today’s column is written by Matthew Smith, managing director at IDG Connect International.

Got data? It’s time to pay closer attention to General Data Protection Regulation (GDPR) because it’s almost certainly going to affect your business and how you handle consumer data – starting right now.

Hopefully, you’re at least aware that the EU’s enforcement of GDPR begins in May 2018, but have you started getting ready or made any significant changes? The new consumer data protection regulations will have a massive impact on companies even outside the EU, and no US company that does business in Europe and collects any sort of consumer data is exempt.

Media companies will be particularly hard-hit because of their reliance on data. At this stage, publishers around the world should be sitting up in their seats. There’s no greater challenge to a publisher’s relationship with its readers than the “right to be forgotten,” as the EU’s GDPR legislation fiercely protects.

Any company gathering data from the EU will be required to get explicit consent from their users/customers – with “consent” defined much more rigorously than before – in order to collect and store information about them. The fines will be staggering for breaching the regulations (€20 million or 4% of global turnover, whichever is higher), and the definition of “personal data” has been broadened to include cookies and IP addresses, not just personally identifiable information.

Read the full article on AdExchanger.com