QUOTE BOX-Reaction to Facebook agreeing a concession deal with Australia on media bill

QUOTE BOX-Reaction to Facebook agreeing a concession deal with Australia on media bill

Reuters  | Feb 23, 2021 21:36

QUOTE BOX-Reaction to Facebook agreeing a concession deal with Australia on media bill

(Updates with comment)

CANBERRA, Feb 23 (Reuters) - Facebook FB.O said on Tuesday it would restore Australian news pages after negotiating changes with the government to a proposed law that forces tech giants to pay for media content displayed on their platforms. are comments from Facebook, Australia and analysts:


"There is no doubt that Australia has been a proxy battle for the world. I have no doubt that so many other countries are looking at what is happening here in Australia.

"Facebook and Google GOOGL.O have not hidden the fact that they know that the eyes of the world are on Australia, and that's why they have sought to get a code here that is workable."


"We have come to an agreement that will allow us to support the publishers we choose to, including small and local publishers.

"The government has clarified we will retain the ability to decide if news appears on Facebook so that we won't automatically be subject to a forced negotiation.

"It's always been our intention to support journalism in Australia and around the world, and we'll continue to invest in news globally and resist efforts by media conglomerates to advance regulatory frameworks that do not take account of the true value exchange between publishers and platforms like Facebook."


"It's not a draw.

"Even though Facebook managed to cover some concessions and the law is perhaps softer, I still think they were the big losers here simply because of the way that they tried to negotiate over the last week. A lot of Australians are a lot more hesitant to rely on Facebook and in terms of their reputation and their Australian user base they have lost trust.

"The law itself remains untested. It's like a gun that sits in the treasurer's desk that hasn't been used or tested."


"Facebook has scored a big win in arriving at an agreement with the Australian government regarding paying for news from Australian sources with concessions that virtually guarantee that it will be business as usual from here on.

"Prior to this “sudden” breakthrough, Facebook had cut off access for all Australian news outlets to its platform which provoked a large public outcry. Critically, the Australian news sites also took a big hit in internet traffic, clearly demonstrating that Australian media needs Facebook more than Facebook needs it.

"Facebook has been accused of acting like North Korea in its actions, but I think that they are fully justified as Australia (and everyone else) seems to be viewing Facebook as a free public service rather than a business.

"As the news sites have quickly realised, their advertising revenues are likely to be lower without Facebook than with it even if Facebook pays them no money at all for their content.

"This clearly demonstrates that the current arrangement is better than no arrangement at all. This notion of free internet is the classic misconception that is held both by the general public and lawmakers and the sooner that this is dispelled, the sooner the correct working relationship can be established."


"Facebook won, as the necessary changes were made to the legislation that avoids them making changes to their business model."

The Australian government was still able to say it "stood up to the giants and that got international attention (but) the digital giants remain as strong as ever."

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the Investing.com App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors.

Investing.com is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.