TECH GIANTS MUST PAY, BY LAW
AUSTRALIA has become one of the first countries in the world with the power to force tech giants to pay for the news they use, after a controversial law passed in parliament.
The News Media and Digital Platforms Mandatory Bargaining Code, created by Australia’s competition watchdog, could be used to demand powerful US firms
Google and Facebook pay Australian news outlets for using their content, achieving what countries like Spain and Germany have tried and failed to do.
The code’s passing also ends a fierce, three-year battle with the tech giants over news, which has escalated in recent weeks.
Treasurer Josh Frydenberg on Thursday said the laws were “world-leading” and would have a positive impact on the Australian media landscape.
“This is a significant milestone,” Mr Frydenberg said. “This legislation will help level the playing field and see Australian news media businesses paid for generating original content.”
Mr Frydenberg also told Sydney radio station 2GB that Facebook would restore news for its Australian users on Friday now that the code – and its amendments – had been passed.
But its path into law has been a bumpy one after Google first threatened to withdraw its search engine from Australia and launched a fierce public campaign against the news code, and Facebook last week banned all news and other information from being seen by its Australian users to evade the law’s reach.
The multibillion-dollar social network this week agreed to lift its ban after winning amendments to the laws, although it still has yet to do so.
Swinburne University media senior lecturer Belinda Barnet said the news code had already delivered for several publishers and TV networks, with companies including Seven West Media, Nine Entertainment, Junkee and News Corp (publisher of the Gold Coast Bulletin) signing deals with Google, and Facebook announcing a letter of intent for a deal with Seven.
“It will benefit Australian media organisations, and it already has,” Dr Barnet said.
“Hopefully, the Treasurer will stand up for small and medium-sized outlets if they don’t come out with deals.”
If either tech giant is named under the laws, it could see them undertake a negotiation, mediation and arbitration process with registered news outlets that would take as long as seven months.
Microsoft president Brad Smith welcomed the news code’s approval, calling the law “a big step forward” to a worldwide standard for supporting journalism online.
“It helps ensure publishers and journalists get paid a fairer share for their work,” he said.
“Australia has shown what’s possible and other democracies around the world can build on their ideas.”
NEGATIVE overseas migration for the first time in 27 years has split rental markets across Australia and created clear groups of winners and losers.
Analysis shows vacancy rates have more than doubled in some apartment-dense suburbs, bad news for landlords but great for tenants seeking to negotiate rents.
Inner-city rents have dropped in most capitals, but have risen sharply in other suburbs and regional areas. However, the worst appears over, according to the analysis by Investment group Binnari Property.
Managing director David Hancock said rents had fallen hard in areas of high unit supply.
“NSW, Victoria and Queensland generally account for over 85 per cent of all overseas migration, meaning the travel restrictions due to COVID had a much greater impact on those markets,” he said. Net overseas migration was at -5900 people in 2020’s June quarter.