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News Corp recently cemented a three-year agreement with Facebook Inc. Australia, the company reported early in March 2021, calling it a victory over regarding news organizations get compensation from big tech.
In February 2021, AU parliament passed a law requiring Google and Facebook pay media companies for the use of content, following negotiations that saw Facebook blocking new content across the country. The legislation got a lot of global attention, with countries like Canada and Britain considering similar steps, with the goal of ensuring that local news media is properly protected and compensated.
News Corp CEO Robert Thomson stated that the agreement with Facebook is a landmark for changing journalism in Australia, and they’re expecting it to have a big impact on news businesses across the country.
News Corp in February also struck a deal with Google for a subscription platform, as well as sharing advertising revenue and video journalism.
The Facebook agreement covers News Corp’s national newspaper, The Australian, as well as the smaller papers like the Daily Telegraph in NSW. News Corp reported that Sky News Australia also cemented an agreement with Facebook.
The details of the deal were not displaced, but Facebook News says that it expands on an old agreement in October 2019, when Facebook paid News Corp’s US publication for access to Facebook News.
Andrew Hunter stated that they’re committed to making sure the AU gets Facebook news, pointing towards the other deals between News Corp and other major media platforms.
The legislation behind this whole matter has been a must-watch topic for people in digital marketing like king kong sabri suby, as the effects of Facebook’s maneuvers affect so much in the market.