"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."
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.
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