The Australian government is now responding to the crisis in the newspaper industry. Publishers are ceasing printing and costs due to the coronavirus pandemic.
Facebook and Google are one of the biggest media companies in the world. They are now facing a big problem due to the effect of the pandemic. Even authorities from France are ordering them to negotiate with the publishers.
The treasurer of Australia, Josh Frydenberg, says they’re working on it. The Australian Competition and Consumer Commission will draft its mandatory regime. It contains a revenue share between US technology companies and local media outlets.
It is their responsibility to reach an agreement as its progress is slow. This regulation requires Google to pay Australia for its content.
“We’re very conscious of the challenges and complexity of ensuring a mandatory code. Many other countries have tried it without much success,” Frydenberg said. “We think we can be world-leading.”
This government policy aims to support the sustainable media landscape. Google to pay Australia will improve its consumer protection. The growing pressure on the media sector of the country has come up to this agreement.
“The government has instructed the ACCC to develop a mandatory code to address commercial arrangements between digital platforms and news media businesses.” He said in a statement.
This new government code covers policies in data sharing. It also regulates the revenue share of the news. Google to pay Australia for its content will help to resolve the problem.
Australia tightens regulations to ensure both Google and Facebook share the advertising revenue. Google to pay Australia is the best way to do so.
This regulation pins down the significance of Facebook and Google in the country. For every A$100 on online marketing, Google has A$47, while Facebook has A$24. The remaining A$29 is for the participating sectors of the market.
The News Corp Australia executive chairman Michael Miller said that it is exploitation. According to him, Google and Facebook are making money out of people’s content. They are also refusing to pay for it. Now a regulation mandating Google to pay Australia is waiting for approval.
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