Australia’s Nine Entertainment Co has officially formalised its content deals with Google and Facebook after months of negotiations.
It’s being speculated that Nine will receive around $45 million annually, and hundreds of millions of dollars over the next five years, which will allow Google and Facebook to publish the company’s content.
It follows Australia’s federal government introducing the so-called media bargaining code earlier this year, which requires social media companies to pay for their news content.
“The deal with Facebook is for the supply of news video clips and access to digital news articles on Facebook news products,” Nine’s ASX statement said.
“The 5-year agreement with Google includes the supply of news content (excluding video) for Google’s News Showcase and other products. Google will also expand its marketing initiatives across Nine’s platforms.”
It’s being speculated that Nine will receive around $45 million annually, and hundreds of millions of dollars over the next five years, which will allow Google and Facebook to publish the company’s content.
Nine has not publicly commented on how the money will be spent, but former CEO Hugh Marks says it will be invested creating quality journalism.
What is the so-called media bargaining code?
At the beginning of this year, media bargaining laws introduced by the federal government.
The laws set out a framework that forces Google and Facebook to broker commercial deals with media companies for the value they gain from having news content on their platforms.
In mid February, Facebook had blocked the sites and stopped Australian users from sharing or posting news links.
The government’s media bargaining code then became law a week later, ending a concerning process and threats from Google and Facebook to reduce services in Australia.
“Google threatened to withdraw search in Australia; Facebook cancelled news. A nation was held to ransom – and it surrendered. As long as the platforms persuade enough desperate news publishers to sign take-it-or-leave-it deals, there will now be no fair, independent arbitration,” Sir Rothermere -whose company owns the Daily Mail , wrote in a letter to the Financial Times at the time.
The European Publishers Council and News Media Europe have called for a similar code to be implemented overseas.
Following the leader – what happens now?
Nine is the third major media company to strike a deal with the tech giants.
Sky News Australia, a subsidiary of News Corp Australia, and Seven West Media have also signed deal with both Google and Facebook.
Nine’s close rival, Seven West Media, was among one of the first major Australian media companies to strike an agreement with Google under new media bargaining codes.
Similarly, Facebook agreed to a partnership with Seven just days after sensationally removing all news content from the Australian market earlier this year.
These agreements will see the tech giants now pay to access news content.
In an industry constantly looking towards the future, anniversary re-releases offer a welcome opportunity to celebrate the past.
In an era of nostalgia, anniversary re-releases of classic films like “Star Wars Episode 1: The Phantom Menace,” “Spider-Man 2,” and “Shrek 2” are captivating audiences anew.
From the thrill of podracing to the iconic battles between heroes and villains, these films offer a chance to relive cherished moments on the big screen.
Tobey Maguire’s Spider-Man swings back into action, Shrek and his crew return for another hilarious adventure, and the galaxy far, far away beckons once more.
As fans of all ages flock to theaters, these timeless classics remind us why great storytelling endures, bridging generations and captivating audiences with their magic.
TikTok’s fate in the United States has never been more in doubt.
Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.
But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.
Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity
New research shows the impact of alcohol on our gut microbiome.
Alcohol affects gut microbes, potentially leading to gut imbalance and heightened cravings.
Research suggests moderate drinkers have healthier gut microbiomes. While red wine consumption may enhance gut diversity, similar benefits can be found in plant-based and fermented foods. Dysbiosis may worsen addiction, highlighting the need for holistic approaches to treatment.
