Australia Proposes News Payment Scheme for Tech Firms

Australia is set to implement a new scheme requiring tech giants Meta and Google to compensate local media outlets for sharing news content, threatening tax penalties for non-compliance. This initiative, announced by Communications Minister Michelle Rowland, aims to address the financial struggles of traditional media as advertising revenue shifts online. A proposed tax, effective January 1, 2025, will apply to companies earning over AUD 250 million annually in Australia, although firms can offset the tax through voluntary agreements with media publishers. The government's move follows Meta's decision to opt out of previous agreements, raising concerns about the sustainability of journalism in the country. Rowland emphasized the importance of supporting quality journalism for a healthy democracy. This initiative is part of broader efforts by Australia to regulate digital platforms and ensure accountability in the media landscape.