Australia to force tech giants to keep paying for news

Published On Dec 12, 2024, 12:45 AM

The Australian government is introducing new regulations that require major tech companies with over A$250 million in annual revenue to pay local publishers for news content. This follows Meta's decision not to renew its payment agreements with Australian news outlets, potentially resulting in a significant revenue drop for these organizations. The planned 'News Bargaining Incentive' differs from the previous code as it mandates payments regardless of whether deals are negotiated. The new framework aims to correct a power imbalance, ensuring tech companies contribute to local journalism, starting from January 2025.

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Given the ongoing tensions between the Australian government and Meta, the new rules could potentially harm Meta's revenue in Australia if they reduce user engagement or if advertisers shift their focus due to decreased news visibility on the platform. This regulatory pressure may lead to a negative sentiment towards Meta, influencing its stock performance.

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