Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
WORLD

New Zealand Plans Law Requiring Facebook and Google to Pay for News

Picture Source: Internet

The New Zealand government said it would introduce a law requiring big tech companies such as Alphabet Inc’s Google and Meta Platforms Inc to pay New Zealand media companies for local news content on their feeds.

On Sunday, Broadcasting Minister Willie Jackson said in a statement that the legislation would follow similar laws in Australia and Canada, which he hoped would incentivise digital platforms to strike deals with local news outlets.

“New Zealand’s news outlets, especially smaller regional and community papers, are struggling to remain financially viable as more advertising moves online,” Jackson said. “It’s crucial that those who benefit from their news content actually pay for it.”

The new legislation will be voted on in parliament, where the ruling Labour Party is expected to win a parliamentary majority.

Australia introduced a law in 2021 giving the government powers to let tech companies negotiate content supply deals with media organisations. A review released by the Australian government last week found it had primarily worked.

Get Daily Prediction & Stocks Tips On Your Mobile