Top executives from Australia’s three largest commercial media companies have warned of job cuts across newsrooms if Facebook and Instagram’s parent Meta fails to renew the deals struck with publishers under the media bargaining code.
Speaking at the Social Media and Australian Society inquiry in Canberra, the executives argued the federal government should impose further regulations on social media platforms, including the potential expulsion of Facebook from Australia if Meta failed to comply with local laws and values. Sneesby was joined by News Corp Australasia executive chair Michael Miller and Seven West Media chief executive Jeff Howard at the first session of the parliamentary committee, which was called in May after Meta said it would not renew its commercial agreements with local publishers.
He added that Meta was “preparing to blackmail” media organisations and the federal government by refusing to renew its deals for news content.Meta’s exit from the bargaining code would remove about $70 million of funding a year for publishers, and would likely lead to job cuts across Nine’s newsrooms, including this masthead, Sneesby warned on Friday.“Most certainly, if the deals aren’t renewed across the industry, we will see pressure on jobs,” he said.
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Source: brisbanetimes - 🏆 13. / 67 Read more »