"The background to all this is important. The Australian Competition and Consumer Commission's digital platform inquiry, which was completed in mid-2019, recommended what became the news media bargaining code (NMBC). The logic was that Google and Facebook, in particular, were benefiting significantly from news content without paying for it. The ACCC recommended that a voluntary scheme of negotiation for a fair payment be tried first but this failed as it could not overcome the huge bargaining power advantage that the platforms had over the publishers."
"No business can keep producing without being paid for what they produce. Journalists hold power to account, they provide a journal of record as to what is going on and they allow debate based on fact. Journalism is fundamental to our democracy. Getting the NMBC right was vital and the same necessity applies to the NBI. Let's deal with the issues."
"The original bargaining code was extremely successful. Three- and five-year deals were entered into by Google and Facebook with virtually all publishers, large and small, and about $1bn has been paid since its inception. But the three-year deals have expired, Facebook, or Meta, has said it will not do further deals and the remaining deals expire in early to mid-2026."
The ACCC's mid-2019 digital platform inquiry led to the News Media Bargaining Code because Google and Facebook benefited from news content without paying. A voluntary negotiation approach failed due to the platforms' overwhelming bargaining power, undermining publisher revenues. The NMBC produced three- and five-year deals covering most publishers and delivered about $1 billion, but many three-year contracts have expired, Meta refuses further deals, and remaining agreements end by mid-2026. Meta may remove news if designated under the NMBC. The proposed News Bargaining Incentive is complex and slow, risks favoring large tech firms, and could force publishers to cut staff.
Read at www.theguardian.com
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