Australia Dare Media Giant Due To Corona Shut Falls

The media company both corporate, private and public, tech, websites and even bloggers are all cashing out during this corona pandemic period, as government are finding ways to generate revenue due shut down of business. Publishers and advertisers are also benefit and with little they get from third party Company who serve advert on their content, everyone is smiling to the bank.

The corona virus pandemic has absolutely shut down all visible business such that market are closed, there is crash in crude oil price since no one is buying, the international monetary fund, European union and world bank are all borrowing out to countries to aid then manage the pressure of lack of business and increasing individual country debt rate.

Australia leads the pack globally with the nature of these proposed laws to hold Google and Facebook to account. This policy would force tech giants to pay for news content as is designed to save the mainstream media and the business of journalism. The accelerated timing is driven by the COVID-19 crisis and the plunder it has brought to media revenues.

The Australian government has now instructed the ACCC to develop the mandatory code that will cover sharing of data, display of news content and sharing of revenues generated from news. It will also provide enforcement and penalty provisions. The size of this revenue share will be pivotal for news publishers.

Facebook and Google have a stranglehold over the digital advertising market and benefit greatly from the content of news publishers on their platforms, social media, search queries and digital video.

They talk about facebook and Google using media stories to get traffic but isn’t it the media using facebook and Google to get traffic to their content? Pretty sure the traffic the media gets by accident by using those sites far outweighs what facebook and Google gain. Through this act Australian government recover their loss in pandemic from these companies but they don’t think these companies also face huge loss in present situation due to corona shut down.

Pay media companies? How about paying users for the content they steal from them while forcing them to sign binding legal agreements under duress simply so we can use their services???

Imagine if Google or facebook don’t link to articles and people stop using media’s content. Can’t wait for Google and Facebook to demand license payments for them to use their platforms in return. This is definitely a story worth watching. I don’t see these two monster companies calling their accounts payable department, asking them to cut checks anytime in 2020 but good luck Australia.

 

 

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