SYDNEY (Reuters) – Australia will require Facebook Inc ( FB.O) and Alphabet Inc’s ( GOOGL.O) Google to share advertising revenue with regional media firms, the country’s treasurer said on Monday, turning into one of the very first nations to require digital platforms to pay for content they utilize.
SUBMIT PHOTO: The logo design of Google is seen in Davos, Switzerland Januar 20,2020 REUTERS/Arnd Wiegmann/File Picture
Treasurer Josh Frydenberg stated the relocation follows talks with Facebook and Alphabet stopped working to yield a voluntary code to attend to grievances by domestic media players that the tech giants have too tight a grip on marketing, their main income source.
” We comprehend the obstacle that we deal with, this is a big mountain to climb up,” Frydenberg told reporters in Canberra. “These are huge companies that we are handling but there is also a lot at stake, so we’re prepared for this fight.”
The government has actually now asked the country’s competitors watchdog, the Australian Competition and Customer Commission (ACCC) to frame an obligatory code of