Money

Facebook and Google could soon pay for news in New Zealand

In this story

New Zealand officials are seeking to pull digital media providers into line when it comes to paying for news

Digital companies like Google and Meta could begin paying media companies in New Zealand under a new scheme designed to protect local content publishers.

Lawmakers in Wellington will vote on the bill, where Prime Minister Jacinda Ardern’s Government is expected to pass it.

Willie Jackson is the Minister of Broadcasting, who said news outlets will benefit from deals reached with digital platforms.

“New Zealand news media, particularly small regional and community newspapers, are struggling to remain financially viable as more advertising moves online.”

The legislation is based on similar laws already passed in Canada and Australia.

“It is critical that those benefiting from their news content actually pay for it,” Mr Jackson said.

The Australian Government introduced the News Media Bargaining Code in 2021, which has led to 30 deals between media outlets and tech firms.

It allows lawmakers to step in when tech companies are negotiating content deals with local media outlets.

The Treasury Department recently found the “agreements have enabled news businesses to, in particular, employ additional journalists and make other valuable investments to assist their operations.”

The agreements are based on how often content is clicked, which ultimately leads to advertising revenue.

Google has cemented agreements with Nine Entertainment and Seven West Media, which are scheduled to run for five years.

Meanwhile, Meta has reportedly reached commercial agreements with 13 news businesses.

Up next
Is Australia’s economy being held hostage by the housing market?

Australia’s growing dependence on property is raising questions about the long-term strength of the economy, with housing affordability.

Read the story →
Ticker Today takes a daily view of the world of news, politics and business.With Ahron YoungWhisky & Suits explores law, property finance and business over fine whisky.With Imran Khan and Chris ChristofiThe Founders Method explores practical lessons and systems for entrepreneursWith Jonathan Byrt and Jesse LeeworthyThe Connector explores property and urban growth across Australia and the UK.With Belinda CoateThe Property Playbook delivers research-led insights for property investors.With Tim Graham and Terry RyderState of Hospitality explores the challenges facing Australia's hospitality.With Jeremy KoadlowBuying Power helps young professionals enter property and build lasting wealth.With Victor and Reshmi KumarThe Airport Economist explores global trade, business and economic outlooks.With Tim HarcourtMedia Movers explores the trends shaping Australia's media and global news.With James ManningBroker Business explores strategies to build, grow and sustain a business.With Rex AfrasiabiMoney Matters explores practical financial strategies to build lasting wealth.With Dr Steven EnticottBeyond Education explores the ideas and technology shaping future learning.With Greg CampitelliTicker Air explores the latest aviation news, travel trends and developments.With Ahron YoungEarly Years Dialogue explores the issues shaping Australia's early learning.With Paul MondoMarkets and Machines explores AI, regulation and trends shaping the markets.With Chris BergSocial Intelligence explores how social media and AI transform our daily lives.With Dr Karen SutherlandThe AI Edge explores how artificial intelligence reshapes the world economy.With Brad Gastwirth

More from Ticker

Watch

More in Money

View all →