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Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
Australia wastes no time when it comes to big tech. Last month, the country introduced a law that, if passed, would ban all people under 16 from accessing social media. Now, it’s coming after social networks and search engines alike, making sure they pay publishers for their content after Meta backed out of doing so, Financial times information. The Australian Taxation Office would be responsible for collecting the money, although it should not benefit from the deal in any way, instead sending all profits to the media companies.
The new amendments would require any platform generating revenue in Australia of more than $US250 million ($160 million) to pay a flat fee or create a direct deal with publishers. In 2021, Meta and Google reached an agreement to pay a number of Australian media companies, large and small, more than 200 million Australian dollars ($128 million) a year, although these agreements were practically bound by legislation . Meta backed down earlier this year, claiming that its users do not come to its platforms for news content.
Industry leaders such as Michael Miller, chief executive of News Corp Australia, welcomed the government’s recent move, with Miller saying: “This will provide a basis for rebuilding the media industry after the loss of around 1,000 jobs this year. , and will ensure that Australian media companies will continue to deliver investigative and professional journalism, which has never been more important for democratic and cohesive societies.”
Canada had already taken a similar step by enacting a bill in 2023 requiring social media platforms and search engines to pay publishers. Meta responded by removing news from the country, but although Google first threatened action, the company agreed to pay news publishers about 100 million Canadian dollars ($71 million) each year.