Google and Facebook together scooped up almost $400 million more in Australian advertising revenue than five major domestic media outlets combined last year, underscoring the significant market power to be targeted in a new code of conduct forcing the tech titans to share their revenue.
In that calendar year, Seven West Media's revenue was $1.1 billion, Southern Cross Austereo's was $633 million and Prime Media's was $184 million.In the 2018-19 financial year, Nine Entertainment Co, the owner of this masthead, generated $1.48 billion in advertising revenue while News Corp Australia brought in $1.2 billion in advertising income and revenue from readers.In total, the revenue generated by the five media companies was about $4.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: