Business Unusual

Facebook and Australia, what it means for the rest of us

Will the deal with Australia help publishers around the world? It was a long time coming but the Great Barrier Beef (as MSNBC described it) came to a head last week when Facebook blocked news content and pages from posting on their platform in Australia. A new law which would compel platforms like Google and Facebook to compensate news publishers for content that was displayed on their sites. Google has agreed to deals of about $1 billion while Facebook held out until 23 February 2021. The Australian Government and Facebook agreed that the negotiations would not force a deal on Facebook. Facebook have set out their position in a post which suggests that they would be willing to use a model to invest/compensate publishers in Australia and elsewhere offering to pay about a $1 billion to publishers in the next three years. Audio credit: ABC Australia Image credit: © Yael Weiss/123fr.com


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