Australia’s government will make new rules for big tech companies to pay local publishers for news. This decision follows a law from 2021. Meta and Google must pay for news on their platforms. Meta, which owns Facebook and Instagram, stopped paying Australian news organizations this year. The new rules will make companies with over A$250m in annual revenue make deals with media or face higher taxes. The scheme will apply to sites like Facebook, Google, and TikTok. Meta is worried about this, saying one industry shouldn’t pay for another. This new framework called the News Bargaining Incentive will make tech firms pay for news, even without deals. The aim is to balance the power between publishers and tech companies. Parliament will finalize the new rules soon. Tech companies must support Australian journalism in return for tax benefits, not to make money.
Vocabulary List:
- Regulations /ˌrɛɡjʊˈleɪʃənz/ (noun): Rules or directives made and maintained by an authority.
- Publishers /ˈpʌblɪʃəz/ (noun): Individuals or companies that prepare and issue books journals or other printed material.
- Negotiations /nɪˌɡoʊʃiˈeɪʃənz/ (noun): Discussions aimed at reaching an agreement.
- Framework /ˈfreɪmˌwɜrk/ (noun): A basic structure underlying a system concept or text.
- Incentive /ɪnˈsɛntɪv/ (noun): A thing that motivates or encourages one to do something.
- Revenue /ˈrɛvəˌnu/ (noun): The income generated from normal business operations.
How much do you know?
