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00:02Apple announced new App Store policies in Europe Thursday,
00:06aiming to avoid a 500 million euro fine under the EU's Digital Markets Act.
00:12The changes add a core technology commission of 5% on digital purchases
00:18made outside the App Store and maintain complex fee structures,
00:23with some developers now paying up to three fees per download.
00:27Apple said it disagrees with the EU's ruling,
00:31but will comply under pressure of daily fines up to 50 million euros.
00:37The European Commission is reviewing Apple's changes for compliance
00:40and is seeking feedback from developers,
00:44including critics like Spotify and Epic Games,
00:48who argue Apple's new approach undermines the DMA's intent.
00:52In the US, Apple's steering restrictions were recently overturned.
00:57Allowing developers to bypass App Store commissions.
01:01For all things money, visit Benzinga.com.
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