Part of the reason why companies such as Facebook and Google have managed to become profitable is because of the fact that they have become hubs for content. Content from a wide range of news publishers frequently gets circulated on these platforms, and if it was just users doing this sort of thing then it really wouldn’t be an issue.
However, the fact of the matter is that these companies actively promote and use this content to boost their revenue and engagement, and because of the fact that this is the sort of thing that could potentially end up taking money out of the pockets of news publishers a number of governments have proposed reforms that would mandate that the tech giants pay publishers for any of their content that they end up using at any given point in time.
With all of that having been said and now out of the way, it is important to note that most governments have not really taken any concrete steps towards this sort of thing. Until now, that is, with the Australian government becoming the first in the world to legally require these tech companies to pay news publishers by meeting with them and agreeing up on a fee that would be paid. If both parties fail to come to an agreement, a representative from the government would end up becoming responsible for the arbitration process and would help decide on a fair payment scheme.
The Australian government as well as many news publishers have hailed this as an excellent step towards preserving the future of independent journalists and the like. However, both Facebook and Google have been heavily critical of this, and they might lash out by no longer featuring Australian news as much as they do news from other countries.
Photo: DENIS CHARLET / AFP / Getty
Read next: Twitter Offers A Look Back At 2020, Highlighting The Most Retweeted Subject Matter Of The Year
However, the fact of the matter is that these companies actively promote and use this content to boost their revenue and engagement, and because of the fact that this is the sort of thing that could potentially end up taking money out of the pockets of news publishers a number of governments have proposed reforms that would mandate that the tech giants pay publishers for any of their content that they end up using at any given point in time.
With all of that having been said and now out of the way, it is important to note that most governments have not really taken any concrete steps towards this sort of thing. Until now, that is, with the Australian government becoming the first in the world to legally require these tech companies to pay news publishers by meeting with them and agreeing up on a fee that would be paid. If both parties fail to come to an agreement, a representative from the government would end up becoming responsible for the arbitration process and would help decide on a fair payment scheme.
The Australian government as well as many news publishers have hailed this as an excellent step towards preserving the future of independent journalists and the like. However, both Facebook and Google have been heavily critical of this, and they might lash out by no longer featuring Australian news as much as they do news from other countries.
Photo: DENIS CHARLET / AFP / GettyRead next: Twitter Offers A Look Back At 2020, Highlighting The Most Retweeted Subject Matter Of The Year
