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Australia to force tech titans to pay for news shared on platforms / Photo: © AFP/File
NYSE - LSE
Australia to force tech titans to pay for news shared on platforms
Australia will force Meta and Google to pay for news shared on their platforms under a new scheme unveiled Thursday, threatening to tax them if they refuse to strike deals with local media.
Traditional media companies the world over are in a battle for survival as precious advertising dollars are hoovered up online.
Australia wants big tech companies to compensate local publishers for sharing news links that drive traffic to their platforms, an idea they have baulked at in the past.
"It is important that digital platforms play their part. They need to support access to quality journalism that informs and strengthens our democracy," Communications Minister Michelle Rowland said.
Social media platforms with Australian revenue of more than US$160 million a year will be taxed a still-to-be-decided figure earmarked to pay for news.
But they can avoid paying the tax if they voluntarily enter into commercial agreements with Australian media companies.
It is the latest salvo in Australia's efforts to reign in the tech giants.
Australia last month voted for new laws that will ban under-16s from social media.
It has also mooted slapping fines on companies that fail to stamp out offensive content and the spread of disinformation.
A. Madsen--BTZ
