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Well the social media giants, paying Australian media outlets for news content, didn't last long.[URL unfurl="true"]https://www.abc.net.au/news/2024-03-01/meta-won-t-renew-deal-with-australian-news-media/103533874[/URL]Facebook owner Meta says it won't renew commercial deals with Australian news media companies worth millions of dollars.Three years ago, the company signed deals with Australian news outlets following the introduction of laws requiring tech giants to pay for displaying news on their platforms.The deals were due to expire in the next few months and had provided Australian media companies, including the ABC and Nine, with up to $200 million, according to the government.In a statement, Facebook said its users were not coming to its platform for news and political content and that it would invest its money elsewhere.
Well the social media giants, paying Australian media outlets for news content, didn't last long.
[URL unfurl="true"]https://www.abc.net.au/news/2024-03-01/meta-won-t-renew-deal-with-australian-news-media/103533874[/URL]
Facebook owner Meta says it won't renew commercial deals with Australian news media companies worth millions of dollars.
Three years ago, the company signed deals with Australian news outlets following the introduction of laws requiring tech giants to pay for displaying news on their platforms.
The deals were due to expire in the next few months and had provided Australian media companies, including the ABC and Nine, with up to $200 million, according to the government.
In a statement, Facebook said its users were not coming to its platform for news and political content and that it would invest its money elsewhere.
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