In the coming weeks the European Commission will carefully examine the online activities of influencers looking for advertising and misleading adverts.
This control, which will affect an indefinite number of posts on the main social networks, will take place in collaboration with the national authorities of the member states that join the Consumer Protection Cooperation Network, the EU coordination network which protects consumer rights.
This was announced in a note published on the European Commission website which states that the results of this “investigation” will be included in the Digital Fairness fitness checkthe initiative that helps determine whether new rules are needed to make a digital market as safe as an offline one.
All the figures The Italian influencer market is worth 308 million: from Facebook to YouTube, here’s how much you earn by Emanuele Capone 06 July 2023
The market that relies on the promotional activity of influencers will reach a value of twenty million euros by the end of 2023. For the EU, it is particularly important that influencers involved in commercial activities, such as agreements with a brand to promote products or services through posts on social networks, carry out the activity in a transparent manner.
For this reason, the European Commission has also established an Influencer Legal Hub, i.e. a platform that will provide assistance to influencers and content creators who are looking for information on the rules that regulate correct commercial activities in EU member states.
AI advertising and avatars of famous people: how the last frontier of marketing works by Carlo Lavalle 09 July 2023
The Commissioner for Justice, Didier Reynderssaid that “the influencer business is thriving and many consumers, often young people or even children, trust their advice.”
“This business model – added Reynders – however involves legal obligations. Influencers must also follow fair business practices and their followers have the right to transparent and reliable information. Our Influencer Legal Hub will be of great help to all players in the industry to understand these rules.”
Il Codacons supports the decision of the European Commission. “For years we have been denouncing the misconduct of Italian influencers, who too often deceive users through undeclared commercial posts which create hidden advertising to the detriment of citizens – explains the Italian consumer association – Just think that the turnover produced on social networks by Italian influencers will reach 348 million euros in 2023 with an annual growth of 13%”.
The research Influencers beyond Chiara Ferragni: who they follow and what Italians are looking for on social media by Emanuele Capone 16 October 2023
According to Codacons “the risk is that the proceeds of activities, even if not declared commercial and/or entrepreneurial, are not correctly subjected to taxation. For these reasons we have already asked the Revenue Agency and the Financial Police to carry out a tax assessment in order to verify whether the financial wealth of the main Italian influencers could be the total or partial result of the granting of gifts, advertising and promotion activities of locations, products and consumer and/or luxury goods, and to initiate an investigation into the relevance of such operations, their suitability to constitute income and, therefore, the impact on the declaration obligations”.
Subjects