Technology giant Google and Facebook will have to pay for news content in Australia, the government said in a press release, as the coronavirus pandemic causes a breakdown in advertising revenue.
Treasurer Josh Frydenberg said the Australian Competition and Consumer Commission would discharge in late July draft rules for the giants to pay reasonable pay for the journalistic content siphoned from news media.
Frydenberg said he believed that Australia could succeed where different nations, including France and Spain, have failed in making this technology giant pay.
The ACCC had attempted to negotiate a voluntary code by which the global giants would consent to pay conventional media for their substance.
But the parties couldn’t agree on “this key issue of payment for content,” Frydenberg said.
Google and Facebook said they had been attempting to the ACCC November timeline to arrange a deliberate code.
Frydenberg declined to assess the amount Google and Facebook would pay news media, other than to state it would add up to a large number of dollars.
Google was netting 47% of internet publicizing spending barring ordered advertisements in Australia, and Facebook was guaranteeing 24%, he said.
