AA | Friday, February 26, 2021 – 16:56 | Last Updated: 26 02 2021 – 16:56
Facebook announced that it had signed preliminary agreements with 3 media outlets that broadcast news, following the approval of the law in Australia, which requires social media companies to pay for news content.
In the statement, it was stated that the final agreements will be signed with the said news organizations within 60 days.
The draft, called the “Australian Media Bargaining Act”, which was approved by the House of Representatives, envisions the pricing of news content by negotiating between technology companies and media organizations.
The law, which aims to strengthen the hand of reporters, allows news organizations to go to arbitration for price disputes.
The law also includes a clause that requires technology companies to notify in advance of which content they are subject to legal regulations.
Internet “giants” to pay for news for the first time
It is considered that the law, which confronts large internet companies with the obligation to pay for the news shared on their platforms for the first time, can set a precedent for similar regulations in other countries.
Australia announced in April 2020 that it will be regulated to pay news sources for content that tech companies use.
Josh Frydenberg, head of the Australian Federal Treasury, said his country would be the first in the world where social media giants will have to pay media outlets for original news content.
Google later joined Seven West Media and Nine Entertainment, Australia’s leading media companies, as well as News Corp. of Australian media boss Rupert Murdoch. agreed with his company to use news content for a fee.