Each and every day vast amounts of data are being created and collected by companies around the globe. In many cases users are being asked to sign-up for more invasive user agreements allowing companies to gather ever more private data and they often don’t know how their data will be shared. In this article the authors take a closer look at the consequences this has for marketers, users and policy makers, and future directions for regulation. Given the wide reach and potential consequences of the productization of user information, it becomes essential for policy makers to carefully balance the positive welfare effects of innovation against negative spill overs. A key success factor in this endeavour could be to consider a broader scope of rule-making, coordination and enforcement that goes beyond existing structures defined by national and regional boundaries.