Australia to charge large tech firms for news content

The Australian government has unveiled new regulations designed to compel tech giants like Meta and Google to pay Australian media companies for news content hosted on their platforms.

Assistant Treasurer and Minister for Financial Services Stephen Jones announced the initiative, which aims to create a financial incentive for tech platforms and news media businesses to negotiate commercial agreements.

Significant social media platforms and search engines with over $250 million in Australian-based revenue will be affected, according to Jones. The fee can be waived if the platforms and news media businesses reach voluntary commercial agreements.

Tech companies have expressed strong opposition to the proposed regulations.

Meta argued that the proposal fails to acknowledge the realities of how its platforms operate and that news publishers voluntarily choose to post content on its platforms for their own benefit. Google also raised concerns about the potential negative impact on commercial deals with news publishers.

Australia is tightening regulations on major tech companies, particularly those based in the US. It recently made headlines by being the first country to prohibit children under 16 from using social media, setting a precedent for other governments dealing with Big Tech.

Canberra intends to impose fines on companies that do not address scams.

Google, ByteDance (TikTok), and Meta (various platforms) would be subject to the new rules, but X (formerly Twitter) would not be included, according to Jones.

Attribution: Reuters

Subediting: M. S. Salama