Video advertising and monetisation platform SpotX has announced the launch of an online resource library for the European Union’s General Data Protection Regulation (GDPR).
The library can be found on the company’s website and is part of a wider educational initiative by SpotX – which is headquartered in the US and has an office in Sydney – to offer everything a publisher, media owner or advertiser needs to know about GDPR compliance.
Effective on 25 May 2018, GDPR aims to strengthen and unify data protection for individuals in the European Union and applies to any company that processes personal data of subjects in EU member states, even if the data subject is not an EU citizen.
The new regulations intend to give individuals control over their data and to simplify the regulatory environment for international business.
Companies that do not comply with GDPR regulations face fines up to four per cent of their annual global revenue, including its parent company, or €20 million – whichever is greater.
Mike Shehan, co-founder and CEO at SpotX, said: “As a global company, we are well aware that GDPR is a huge concern for everybody within the digital ecosystem, and the implications of non-compliance are massive.
“One of our company’s missions is to support our partners by providing all of the necessary tools, information, and guidance they may need to effectively and efficiently execute advertising transactions.”
As part of its own GDPR compliance strategy, SpotX has created an internal, cross-functional, global GDPR Task Force to help train all SpotX employees on the new regulations and provide extensive guidance for every type of stakeholder.
SpotX is also developing several tools and products that will allow its partners to manage their own privacy settings.
The company’s educational initiative includes plans for future case studies, roundtable discussions, social media campaigns, and more blog posts describing important GDPR information and recommended action items.
SpotX is currently in the process of merging operational businesses with its sister company smartclip. Its GDPR initiatives are all-inclusive of both organisations in their respective regions.