The General Data Protection Regulation (GDPR) has recently come into force and will have wide implications for the digital economy and the business models of various tech firms, as well as providing new opportunities for innovation. The GDPR aims to provide consumers with the control of their personal data, provide trust in the digital economy and harmonize data protection throughout the EU pursuant to the Digital Single Market strategy. This paper attempts to analyze and outline how the GDPR might change the data-driven business models (DDBMs) of firms, yet nonetheless they may lead to a variety of positive effects. Indeed, the principles and individual rights in the GDPR tackle monopolistic structures (and lock-ins), and they can increase the quality of data and digital provisions as a result of competitive pressures, as well as promoting consumer trust in the digital market. One of the individual rights and newer features introduced by the GDPR, namely the right to ‘data portability’, will be considered with regard to the case of its impact on Facebook’s DDBM.