The Financial Times revealed that the media industry in Australia boomed after obligating ‘Google’ and ‘Facebook’ to pay media outlets for their content, a move that was fiercely opposed by the two giants.
Google and Facebook paid Australian media companies A$200 million ($146 million) in 2021 due to new regulations that helped Australian newspapers and news sites, reports a local Arabic daily.
Invoice Groeskin, a professor at Columbia University’s School of Journalism, said Google and Facebook funds were used to create at least 50 new press houses in underserved places.
Monica Attard, a media professor in Sydney, described the market for the role of junior journalists as the most effective in 20 years.
Australia was the first country in the world to introduce legal guidelines forcing giant platforms to pay newspapers and websites for the content you publish from them, after a battle between Google and the country’s customer regulator.
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