SYDNEY, May 14 — A leading publisher called today for Google and other tech giants to pay Australian news outlets some US$400 million (RM1.73 billion) a year under a mandatory code of conduct ordered by the government. Australia last month announced plans to force Google, Facebook, and other...
Ninety-eight per cent of Australian mobile searches are reported to be via Google — Reuters pic
In an initiative being closely watched across the world, the government is due to unveil in July details of the mandatory payments as part of a code of conduct for the tech giants' dealings with news media. “So, if you apply those figures, Google and Facebook are taking about A$600 million of advertising revenue out... which otherwise could have, or should have, been going to media,” he said in an interview with Nine's Australian Financial Review newspaper.
Google and Facebook protested the move and called for continued negotiations. Both companies also insist they have invested millions of dollars in initiatives in helping Australia's struggling news industry.Costello dismissed the need for further talks, saying the best way to address the issue is “an industry solution, where you sit down and try to estimate the value that Google and Facebook are getting from the use of this material. We think it's A$600 million a year.
In response to falling revenues, Australian news outlets have slashed 20 per cent of jobs in the last six years.
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