Australian Prime Minister Anthony Albanese has criticized Meta executives as “arrogant” for their decision not to renew a commercial agreement with Australian media. The media conglomerates, including Nine Entertainment, Seven West Media, and News Corporation, announced staff cuts due to the end of the agreement, which was signed in 2021 and expires this Sunday.
Several media companies have announced staff layoffs in response to the termination of the commercial agreement with Meta. The cuts were attributed to a weak advertising market and the loss of revenue from the agreement with Meta, owner of Facebook and Instagram. The Australian government has expressed concern over Meta’s decision to end these agreements and the impact it will have on the media industry in the country.
Albanese emphasized that social media platforms have a responsibility to honor their commitments to pay for news content and support media outlets. In 2021, Australia passed a groundbreaking law requiring platforms like Google and Facebook to pay news media outlets for publishing their content. The payments from Meta and Google to Australian media outlets are estimated to total 200 million Australian dollars. The Australian government has expressed concern over Meta’s decision to breach its commitment to fair compensation for news content by ending these agreements.
The termination of this commercial agreement is not only affecting Australia but also Germany and France where similar agreements exist. Albanese stated that these companies have a social responsibility to pay for the news and journalism that many Australians rely on through social media platforms.
Overall, Albanese’s criticism highlights the importance of fair compensation for news content in maintaining a vibrant and independent media industry in Australia.
