The good days of Google and Facebook, which make money by spreading the news in other people’s free news, are coming to an end soon. These two platforms may soon have to pay to show each other’s news in Australia. Google has 53% of the online advertising market and 23% of Facebook. If this law is not respected, a provision is also made to impose heavy penalties on both companies.
Australia will make such a law for the first time in the world
Australian Finance Minister Josh Friedenberg said the bill had been named a media bargaining code. A parliamentary committee has also been formed on this bill tabled on Wednesday. After a thorough discussion, next year, i.e. 2021, the bill will be voted on in Parliament. The Australian government has said it will be a major reform. It will be the first time in the world and the world is watching what is happening here in Australia.
Money will need to be paid to view news content
Initially, the government’s plan was to keep government media such as the Australian Broadcasting Corporation and Special Broadcasting Service out of its jurisdiction in cases of journalism or news distribution by Google and Facebook. At the same time, according to this new Australian law, these companies will also have to pay to do journalism as a normal commercial media enterprise.
Google and Facebook threaten Australia
Facebook had warned that it could interrupt Australian news rather than pay for the news. Google said the proposed legislation would be much worse for Google search and YouTube. This can endanger free services and force users to transmit data to large media companies.
Corona was shocked by the media industry
Due to the corona virus, not only Australia, but dozens of newsrooms have been closed in many countries around the world. Now Australia will take the immediate legal route. According to the Australian government, equality is necessary when multinational digital platforms abandon their monopoly position.
Google and Facebook are also gaining a lot in India
Facebook and Google had earned around 70% (Rs 11,500 crore) of their online advertising revenue in India in 2018-2019. In 2022, this market will rise to Rs 28,000 crore.