source- forbes.com

Australia says law making Facebook and Google pay for news has worked

According to recent reports, an Australian law gave the government the liberty to make the most popular companies in the world, Facebook and Google negotiate content supply deals have been a success according to a government report. Read the entire article to learn more about this news piece.

About the report

“At least some of these agreements have enabled news businesses to, in particular, employ additional journalists and make other valuable investments to assist their operations,” said the report. “While views on the success or otherwise of the Code will invariably differ, we consider it is reasonable to conclude that the Code has been a success to date.”

But it did note the law lacked “a formal mechanism to extend the Code to other platforms”, and suggested the government order the competition regulator, which led to the design of the law, to “prepare reports on this question”.

“The review shows the Code has been successful in balancing bargaining power between news media and digital platforms,” said Assistant Treasurer Stephen Jones.

“Digital platforms must continue to negotiate in good faith with news businesses to ensure they are fairly remunerated for the news content they create.”

Google director of government affairs and public policy in Australia Lucinda Longcroft said the company had “furthered our significant contribution to the Australian news industry” by signing deals representing 200 mastheads across the country and “the majority of these outlets are regional or local”.

About Google

Google is now of the most well-known companies in the world. From children to adults, every single person is very fond of the search engine. It guides you through everything whether it is education, entertainment, news, etc. If you need answers to any problem or need any suggestions, then Google is the answer. Alphabet Inc is the parent company of Google. The company is currently headed by Sundar Pichai.

Lawsuit Filed Against Meta For Using User Data Without Consent

About Meta

Meta is the parent company of Facebook and also owns Instagram and Whatsapp. The purpose of Meta is to help people connect with other irrespective of their physical connection at that point of time. It wants to reduce the distance between people through its services so that people have the chance to build meaningful relations without facing any trouble. The company aims to advance the digital world upto a level that people can build their network without having to meet in person. the company is headed by Mark Zuckerberg currently.