News Corp CEO Michael Miller has used a speech to the Melbourne Press Club yesterday to call for the relaxation of media ownership laws that prevent media companies “from playing on a level playing field” against the likes of Google and Facebook.
In a wide-ranging speech Miller outlined the difficulties facing his and other media businesses but added he was optimistic about the future of traditional media companies in Australia.
“The current media legislation was established in a world pre the internet and prevents us all from competing on a level playing field,” Miller told his audience, many media types and journalists.
“It’s a legislation that prohibits Australian media companies achieving the scale needed to meet these challenges.
“And while we can justifiably blame technology, society’s changes, piracy, global players, government and legislation for our current dire state, we must assume some of the blame ourselves.
“The fact is: less is being invested in Australian content across all mediums, and the challenge of producing great content is harder to meet; we are primarily domestically oriented, focused on our traditional competitive share rather than investing regionally for growth; while at the same time, reducing the marketing and promotion of our brands and our talent,” he said.
Miller cited these issues as media’s most pressing:
- The advertising pie is shrinking, and revenues in print and FTA TV are declining and not accelerating in digital. June’s SMI numbers showed another 10 per cent decline in the agency ad revenue;
- There are more players than ever before competing for this decreasing pie;
- The cost of entry and to operate are lower than ever, enabling start-ups and pop-up publishers to compete for eyeballs, ears and dollars;
- Then there are the international streamers such as Netflix, Amazon Prime and YouTube who continue to dilute local broadcast audiences;
- The Daily Mail, the New York Times, The Guardian and many others are taking share in the news category;
- Global digital advertising players such as Google and Facebook dominate the new advertising landscape, accounting for 85 per cent of new digital revenues over the past year;
- These global broadcasters, publishers and networks challenge us with scale and resources previously unseen in this country and dwarfing those of the local industry, while pushing up our creative and content costs.
- Then there’s the current media legislation was established in a world pre the internet and prevents us all from competing on a level playing field.
Miller added: “I am an optimist. I believe in what we do. But I am not Pollyanna. I am a realist. And as an industry, we do have some real challenges. These challenges are well documented, and well known to you all,” he said.
However, he did finish on a positive note, telling the audience, “The future of Australian media will be determined by those who work together, work smarter, put their customers first and continue to invest in the craft that is of the utmost importance to this country – journalism.
“I am, as I said, an optimist and I am confident of a vibrant future ahead,” he said.
Cannes in Cairns, presented by Pinterest, is thrilled to announce that none other than Microsoft will be hosting an offsite networking lunch at Cairns’ stunning Salt House restaurant on Thursday the 3rd of February as part of the event’s packed agenda. As a silver partner to the event, Microsoft (who, we’re sure you’ll agree needs […]
Creative design marketplace, DesignCrowd, has announced reaching the milestone of one million registered designers on its global platform. The Aussie crowdsourcing start-up currently has a 1,004,000-strong freelance designer network, which has grossed over $A62 million since the company’s 2008 launch. The network have completed over 26 million graphic, logo and web designs for both small […]
The Chiefs and Optus today announce a partnership extension that will see the brands continue to collaborate around gaming content in Australia for a further 12 months. The news follows a successful 12-month partnership, including members of The Chiefs featuring in Optus’ Gamer Plan launch supporting the development of Optus’ Streaming Booth. Much of the […]
During the month of October, $A8.5 million was spent in digital travel advertising and digital impressions were up almost 40 per cent from September, according to the Nielsen Ad Intel report. The report found that the top advertisers amongst cruise lines from October in order are Emerald Cruises, Oceania Cruises, and Royal Caribbean. Amongst the […]
Integral Ad Science (IAS) announced the expansion of its context control solution for advertisers and publishers globally to give customers more control over the context of digital ad placements. IAS CEO, Lisa Utzschneider (featured image), gave insight into the enhancement, saying: “We first launched context control to help our customers transform their targeting strategies, and […]
Programmatic video advertising platform Unruly has introduced content level targeting that standardises attributes across genre and rating segments enabling scaled buying on premium video content. Today Unruly announced the introduction of its content level inventory that segments inventory based on publisher bidstream attributes that mirror linear TV buys, such as genre and rating. The solution […]
Golden Circle is bringing a splash of sunshine to the Australian Summer with the launch of an innovative, SmilePay vending machine. The machine was created by 72andSunny, and software development company, Enabled 2 GO Technologies. It uses existing smile recognition software to recognise an Aussie smile and in return release a complimentary ice-gold Golden Circle fruit drink […]
Almost half (49 per cent) of Australia’s marketing, media, and communications employees feel their managers are showing little, if any, concern for their mental wellbeing, a new report has found. The report – conducted on behalf of the Australian College of Applied Professions in October 2021 – surveyed 1000 nationally represented workers and found some […]
Meta has partnered with creative agency, Now We Collide to showcase the strength and resilience of small businesses around Australia. The campaign “Good Ideas Deserve To Be Found,” features the stories of four Australian businesses including Singing Magpie (SA), BoardSox (VIC), D-STILL Drinkware (QLD) and Survival Emergency Solutions (NSW). Each story shows how the business […]
The internet is invaluable but cyber security fears are keeping Australians offline. According to new research released today by the .au Domain Administration (auDA), almost 90 per cent of Australians say the Internet has a positive impact on their lives. Moreover, almost all small businesses (98 per cent) depend on the Internet as an invaluable […]