Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer, Josh Frydenberg, instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic.
In its response to the landmark digital platforms inquiry in December, the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook.
To read this article in full, go to:
https://www.theguardian.com/media/2020/apr/19/facebook-and-google-to-be-forced-to-share-advertising-revenue-with-australian-media-companies
Also see:
Australia Moves to Force Google and Facebook to Compensate Media Outlets
The Australian government said on Monday that Google and Facebook would have to pay media outlets for news content in the country, part of an emerging global effort to rescue local publishers by moving to compel tech giants to share their advertising revenue.
The decision to mandate compensation for news articles displayed on Facebook pages or in Google search results — important drivers of traffic for those platforms — comes as the coronavirus pandemic accelerates years of advertising losses at media outlets large and small.
To read this article in full, go to:
https://www.nytimes.com/2020/04/20/business/media/australia-facebook-google.html
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