Media executive warns of Meta decision’s ‘devastating impact’ on Aussies

The digital revolution has brought an era where news is not just consumed at the breakfast table or on the evening couch but scrolled through on smartphones and shared via social media platforms.

One of these platforms, Facebook, owned by the company Meta, has become a hub for accessing news content.

However, a media giant executive said a recent bombshell decision by Meta threatens to upend the fabric of Australia's news landscape.



Meta, the company behind social networking giant Facebook, announced that it will discontinue its commercial agreements with Australian media companies.

According to Michael Miller, Executive Chairman of News Corp Australia, this will likely lead to a substantial cutback on the breadth and depth of news accessible to Australians on the platform.


shutterstock_2065679765.jpg
Meta announced that it will not renew commercial agreements with Australian media. Credit: Shutterstock


The financial implications are stark. Miller said the estimated that Meta was paying Australian media $250 million annually—a figure that represents a lifeline for many publications.

He said these funds have enabled the sustenance of rural and regional reporting hubs, ensuring that smaller communities stay connected and informed about local developments, issues, and governance.

Without this funding, there is the grim prospect of job losses, newspaper closures, and a troubling void in local news coverage.

‘The Australian government must protect these smaller communities who will be the real victims of Meta’s decision to not compensate publications for the local news they produce,’ Miller said.

‘Meta’s move will significantly affect our business,’ said Managing Director Tony Kendall of Australian Community Media, Australia’s largest publisher of rural and regional titles.

‘It will also, sadly, fuel the explosion of fake news and other junk proliferating on social media.’



Moreover, Meta's move underscores a broader tension between expansive tech firms and national jurisdictions.

In 2021, the Australian government took a firm stance with the News Media Bargaining Code, encouraging digital platforms to voluntarily negotiate a ‘fair price to pay to publish the news of an Australian news business and/or corporation’.

‘Without the payments by Facebook to publishers for using their journalism, the industry would have had no choice but to cut back on its resourcing and coverage of many local events,’ Miller said.

‘And don’t be fooled by the claims of Meta, its parent company, that few Australians are accessing news on their Facebook platform. Meta is just gilding the lily—and knows it.’


shutterstock_2087084509.jpg
Meta’s move will affect several businesses and the proliferation of fake news. Credit: Shutterstock


Miller debunked one of Meta’s frequent claims about the value of news.

‘Meta says only three per cent of its feed is comprised of news article links,’ he said.

‘But this dramatically understates the role of news on Facebook as it ignores images, videos and other forms of news content.’

‘Even if you accept the three per cent as fact, Meta’s market value is over $1.9 trillion dollars. Three per cent of $1.9 trillion is $57 billion, meaning the news industry, even with Meta’s understated figures, creates huge value for Meta’s enormous profit coffers,’ he added.

Miller stressed that Meta’s announcement showed a ‘total disregard for Australian law and the comprehensive work done by the Australian Competition and Consumer Commission (ACCC)’.

‘It shows how little it cares about Australia, the Australian people, and its customers, the very people who use Facebook on a daily basis,’ he said.




Communications Minister Michelle Rowland and Assistant Treasurer Stephen Jones (who oversees The News Media Bargaining Code) said in their joint statement: ‘Meta’s decision to no longer pay for news content in a number of jurisdictions represents a dereliction of its commitment to the sustainability of Australian news media.’

‘The Australian government is committed to The News Media Bargaining Code and is seeking advice from Treasury and the ACCC on next steps.’

Prime Minister Anthony Albanese supported Australian media, saying, ‘We will always stand up as a government for Australian media interest and media diversity.’



Meta is no stranger to controversy.

In 2022, it agreed to pay a total of $1.1 billion to Facebook users after it reportedly let third parties access not only users’ data but also their friends’ data.

What led to the massive payout? Read more about it here.
Key Takeaways

  • Meta's decision not to renew commercial agreements with Australian media could have severe consequences for Australians' access to trusted news, according to News Corp Australia Executive Chairman Michael Miller.
  • Miller said lack of compensation from Meta to publishers for their content may lead to job losses, closures of titles, and a decrease in local news quality, particularly affecting rural and regional communities.
  • The News Media Bargaining Code established by the Australian government aims to ensure digital platforms fairly compensate media companies for their content.
  • The Australian government, including Prime Minister Anthony Albanese, expressed strong support for media diversity and is considering how to respond to Meta's actions, reflecting their commitment to the sustainability of the Australian news industry.
Do you use Facebook to check news updates? What are your thoughts on this development? Let us know in the comments below!
 
Sponsored
Watch all or most TV BS of propoganda still pushing Covid vax and thensaving it was not mandated most of the RATS have jumped already Courts saying mandates are and were illegal.Jumping will not save them nor will the so called vaccine .Nuremberg Code 1947 still applies .Look it up people were not informed before making a decision on an EXPERIMENTAL MEDICAL TREATMENT.Most drugs take 5 years mot 6 months.Media will not cover this hardly the ABC is one of the worst in Australia .
The Covid-19 vaccines were hardly "experimental". Researchers had been working on vaccines for SARS, MERS, and other viruses related to Covid-19 for decades. With the Covid-19 outbreak, hundreds of countries around the world spent billions of dollars and set their best scientific minds to find a vaccine as quickly as possible. The previous research efforts were one of the reasons why a vaccine was able to be developed much faster, and testing was done on tens of thousands of people before it was released.
The myths promoted by anti-vaxxers have been disproven many times. Countries like Australia which had a 95% double vaccination rate by the end of 2021, compared to 50 to 60% in the USA, had a fraction of the number of deaths per 1,000 people. Border closures, lockdowns, and adherence to health authorities advice, also kept death rates down until herd immunity could take effect.
 
There are lots,of other ways to get news, especially news not corrupted by Meta.
Try reading a news paper. TheAdvertiser/Sunday mail do both papers and digital mail. They also send updates via email during the day. Then there is the radio news with hourly updates on main items and nightly TV news broadcasts also often repeated. If you have cable or satellite channels there is Sky News which tends to be less woke and more like the truth. We do not need to live in a world where we are attached to a phone/Pad/computer to get news. Nor do we need to panic because Meta has become even more greedy (if that is possible!). When people stop using Facebook as their be all and end, all for news which is often tainted, Meta will start losing a lot of money as people no longer bother with other parts of Facebook and the advertising revenue will drop. So just go back a little bit to using one of the many other ways of getting news and let Meta dig its own grave!
News Media, which is owned by Rupert Murdoch, is one media outlet complaining about Meta
There are lots,of other ways to get news, especially news not corrupted by Meta.
Try reading a news paper. TheAdvertiser/Sunday mail do both papers and digital mail. They also send updates via email during the day. Then there is the radio news with hourly updates on main items and nightly TV news broadcasts also often repeated. If you have cable or satellite channels there is Sky News which tends to be less woke and more like the truth. We do not need to live in a world where we are attached to a phone/Pad/computer to get news. Nor do we need to panic because Meta has become even more greedy (if that is possible!). When people stop using Facebook as their be all and end, all for news which is often tainted, Meta will start losing a lot of money as people no longer bother with other parts of Facebook and the advertising revenue will drop. So just go back a little bit to using one of the many other ways of getting news and let Meta dig its own grave!
News Media, owned by Rupert Murdoch, is the main outlet complaining about the Meta ban, despite owning most of the media in this country. They own Sky News, most major newspapers, and in Queensland, every single newspaper, including free publications and the Courier and Sunday Mail. The last thing Australia needs is more social media being used to regurgitate the bias and misinformation which passes for news from the Murdoch stable.
 
Welcome ANY cut back on the so-called "news" which is actually "the oldes" the same old same old sensational Negative Stuff that inhabits our thoughts, manipulates us AND can cause anxiety and worse - hopelessness eg the insistent news on waters that Yes are Hideous and HOW does seeing and hearing about them assist us to be contented human beings? When there is nothing most of us can do to change what is happening WHY do we insist on filling our minds and hearts with the tragedy over and over????

IF We want yo be more contented we DONT watch the so-called "news" 💚
 

Join the conversation

News, deals, games, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.

Seniors Discount Club

The SDC searches for the best deals, discounts, and bargains for Aussies over 60. From everyday expenses like groceries and eating out, to electronics, fashion and travel, the club is all about helping you make your money go further.
  1. New members
  2. Jokes & fun
  3. Photography
  4. Nostalgia / Yesterday's Australia
  5. Food and Lifestyle
  6. Money Saving Hacks
  7. Offtopic / Everything else

Latest Articles

  • We believe that retirement should be a time to relax and enjoy life, not worry about money. That's why we're here to help our members make the most of their retirement years. If you're over 60 and looking for ways to save money, connect with others, and have a laugh, we’d love to have you aboard.
  • Advertise with us

User Menu

Enjoyed Reading our Story?

  • Share this forum to your loved ones.
Change Weather Postcode×
Change Petrol Postcode×