Sydney-Sana
The Australian Parliament passed a bill today requiring tech giants to pay media outlets for their content.
According to Agence France-Presse, the text of the law was adopted after Google and Facebook reached agreements to avoid being subjected to arbitration whose results are binding, and it paves the way for these two groups to invest tens of millions of dollars in agreements on local content.
This agreement could serve as a model for resolving conflicts between tech giants and regulators around the world to balance the relationships between traditional media outlets facing major financial difficulties and the giants that dominate the Internet and generate a large portion of advertising revenue.
The Australian government said the law would guarantee news organizations “fair compensation for the content they provide and thus help keep public interest journalism alive in Australia”.
Google will now pay for the news content that appears in its new tool called "Google News Showies", while Facebook has now paid suppliers who appear in its news product, which is supposed to be released in Australia later this year.