Khaberni - Australia revealed on Tuesday a draft of new laws hinting at imposing taxes on giant tech companies, should they refuse to enter into voluntary agreements with local media institutions for monetary compensation in return for using their news content.
The move targets major companies like Meta, Google, and TikTok, as part of government efforts to force digital platforms to compensate publishers, who are facing increasing challenges amid declining revenue and the audience's shift towards consuming news through social media.
Australian Prime Minister Anthony Albanese said that these companies will be given the opportunity to reach content deals with local media, warning that they will face - if they refuse - a mandatory tax that could reach up to 2.25% of their revenues in Australia.
Albanese added in press statements "The large digital platforms cannot evade their obligations under the Media Bargaining Law," noting that the measure targets companies like Meta, Google, and TikTok at this stage.
This step comes at a time when traditional media institutions around the world are fighting to survive, as a broad segment of the audience shifts to digital platforms as their primary source of news.
According to a study by the University of Canberra in Australia, more than half of the country's population relies on social media to obtain news.
Australia was the first in the world to decide on a ban on the use of social networks and communication sites by teenagers under sixteen, a step described as the strictest globally, followed by steps from other countries.
From an economic perspective, observers at the time saw that giant companies would face the loss of a consumer segment they relied on for targeted advertising, data collection and behavioral analysis, and building early loyalty to digital brands.
