A report from Australia's Treasury department says that deals arising from the News Media Bargaining Code have helped news businesses employ more journalists, and make other valuable investments.
An Australian law giving the government power to make internet giants Facebook owner Meta Platforms and Alphabet Inc’s Google negotiate content supply deals with media outlets has largely worked, a government report said.
Since the News Media Bargaining Code took effect, the tech firms had inked more than 30 deals with media outlets compensating them for content which generated clicks and advertising dollars, said the Treasury department report, published late Thursday. “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 the design of the law, to “prepare reports on this question”.
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