Paul Fletcher.
If the Federal Government needed any further vindication for imposing a mandatory code which will force Google, Facebook and other international digital platforms to pay Australian media companies for sharing news content, Google Australia’s latest financial results are timely.
The Internet giant last week revealed advertising revenues in Oz in calendar 2019 jumped by 16 per cent to $4.3 billion – and it made a pre-tax profit of $134 million on net revenues of $1.2 billion.
Paul Fletcher, the Minister for Communications, Cyber Safety and the Arts, tells If: “Google extracts a lot of advertising revenue from the Australian market, as their latest results confirm.
“It is another illustration of the substantial market power of Google and Facebook which the Accc highlighted in its report last year.
“Google and Facebook use content that is generated by Australian media businesses to accumulate eyeballs which they are monetising through advertising revenue.”
Nine chairman Peter Costello and News Corp.
If the Federal Government needed any further vindication for imposing a mandatory code which will force Google, Facebook and other international digital platforms to pay Australian media companies for sharing news content, Google Australia’s latest financial results are timely.
The Internet giant last week revealed advertising revenues in Oz in calendar 2019 jumped by 16 per cent to $4.3 billion – and it made a pre-tax profit of $134 million on net revenues of $1.2 billion.
Paul Fletcher, the Minister for Communications, Cyber Safety and the Arts, tells If: “Google extracts a lot of advertising revenue from the Australian market, as their latest results confirm.
“It is another illustration of the substantial market power of Google and Facebook which the Accc highlighted in its report last year.
“Google and Facebook use content that is generated by Australian media businesses to accumulate eyeballs which they are monetising through advertising revenue.”
Nine chairman Peter Costello and News Corp.
- 5/18/2020
- by The IF Team
- IF.com.au
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