The Australian government has proposed the News Bargaining Incentive (NBI) legislation, requiring companies like Meta, Google, and TikTok to pay for news content they aggregate. A 2.25% levy on local revenues will apply unless commercial agreements with local news publishers are established. The effective rate can drop to 1.5% with more agreements, potentially generating A$200 million to A$250 million for journalism. This legislation follows a previous attempt that allowed companies to avoid payments by removing news content, which led to job cuts in newsrooms.
"The proposed law, called the News Bargaining Incentive (NBI), would impose a 2.25% levy on the Australian revenues of the three platforms unless they strike commercial deals with local news publishers."
"If enough agreements go through, that effective rate drops to 1.5%, which could generate between A$200 million and A$250 million back into Australian journalism."
"Meta's decision to pull news content in 2024 left a pretty obvious gap in Australia's media rules. The NBI is the government's attempt to fix it, and this time, there's no workaround."
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