Facebook refuses to share its earnings with the media
Facebook refuses to share its earnings with the media

Facebook has rejected an invitation from the Australian government and media companies to share advertising revenue with the media, saying it is more willing to remove news content from its platform. The social media giant said in a request to the Australian Competition Watch: news is nothing but news feeds, and a small percentage of ordinary users are in the content.

"If Australia does not have news content on Facebook, we are confident that this will not have much impact on the standards and revenue of the Australian Facebook community, given the social value and in favor of news publishers, we sincerely hope to continue to publish press releases on our content - Platform. "

Australia will announce its intention to compel Facebook and Google to share the advertising revenue they receive from the information provided by their services. The move was strongly supported by two Australian media companies, News Corporation and Nine Entertainment. .

Media companies believe that the global information industry crisis is mainly due to Facebook, Google and other large technology companies, which account for the majority of online advertising revenue, but the ads in the content have not been adequately compensated for.

Loss of profits from newspaper ads led to layoffs, and the entire industry went bankrupt. This process has been exacerbated by the economic recession caused by the coronavirus. In recent years, more than 170 newsrooms have launched publishing or have stopped publishing.

The Australian Competition Authority (ACCC) estimates that the country's annual advertising revenue for Facebook and Google is about A $ 6 billion. Famous press publishers demand that these companies pay at least 10% of this income to local press agencies every year.

Google rejected the request last month, saying news related news was earning $ 10 million annually.

Facebook and Google believe they are giving hundreds of millions of dollars to Australian news by directing traffic to websites that either generate advertising revenue or can convert it into paid users.

"We allow media companies of all sizes to spread links, increase brand awareness and increase the traffic that their websites can use for free," said Mia Garlic, Director of Public Policy at Facebook in Australia and New Zealand.

Facebook emphasizes that it is inappropriate for two private companies to address the challenges facing the Australian media. Facebook is a worrying sign of your negotiations (ACCC). The agency's deadline is the end of July to prepare the government's commitment to rapidly implement the final law.

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