OPINION - EDITORIAL
Australia’s bold plan for Big Tech to pay media companies may level playing field
By Post Editorial Board
April 20, 2020 | 7:25pm
Photo by OLIVIER DOULIERY/AFP via Getty Images
Australia just took a major step toward leveling the playing field between Big Tech firms like Facebook and Google and financially hard-hit media companies, setting what could be a critical precedent for other nations.
On Monday, Australian Treasurer Josh Frydenberg announced plans to force the digital behemoths to pay news and other media outlets for their content, as part of a mandatory “code of conduct” to be presented in July. The move came after “insufficient progress” on a voluntary code.
“It is only fair that the search engines and social-media giants pay for the original news content” they use, Frydenberg said. He cited data showing between 8 and 14 percent of Google search results include reports from news sites. Yet the digital platforms wind up with a huge share of online advertising bucks: Google gets 47 cents of every dollar; Facebook, 24 cents.
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READ MORE: https://nypost.com/2020/04/20/australias-plan-for-facebook-google-to-pay-media-companies-may-level-playing-field/
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