Peter Costello, Nine Entertainment chairman, has threatened to pull the company’s $1 billion content investment if the tech players like Facebook and Google fail to pay up for the use of the content.
Costello made the remarks in Nine’s 2020 annual report, suggesting the tech giants “contribute very little to Australian employment” yet are able to “use the premium content [Australian publishers] produce” to attract an Australian audience.
He also said it was unfair the digital platforms, based in the US, were no subject to the content rules that apply to FTA broadcasters in Australia.
Costello said Nine has spent as high as $1 billion in 2020 in premium content across the business, including TV, Stan, and its fleet of newspaper.
He said: “The large global companies use this content to generate revenue, but they do not pay for it at a rate that fairly shares the cost of making it or fairly shares the value they get from it.
“We cannot be expected to bear all the cost when it is being monetised by others. If we are not adequately compensated we will, regrettably, reduce our investment in this content,” he said.
Costello said while he did not believe cutting Nine’s budget content would phase tech giants, it would affect Australian creators and consumers.
His comments follow news that the ACCC and government are working on a news media bargaining code, which is expected to be brought to federal parliament in October.
B2B marketers could learn a thing or two from their B2C colleagues, argues WP Engine VP APAC sales Mark Randall in this guest post. It surprises me how many B2B organisations are not quite hitting the mark when it comes to reaching their audience. When talking directly to businesses, many brands are missing an opportunity […]
The majority of adverts uploaded to Facebook aren’t created for Facebook as its priority. This is causing huge inefficiencies and poor performance for brands, many of whom are facing up to shrinking budgets. Tom Phillips (main photo) managing director at Connecting Plots shares lessons from 12 campaigns they optimised for auto brands… It’s no secret […]
On Wednesday, 21 October 2020, the PR industry was bolstered by the launch of the Public Relations Institute of Australia’s (PRIA) first University Mentoring Program in New South Wales, adapting the traditional face-to-face program to a virtual format for the first time. In collaboration with the University of Technology Sydney (UTS), the PRIA NSW Young […]
JCDecaux has developed a dynamic digital campaign with live timetable data where commuters can access their money from MyPayNow while waiting for the bus. In an exclusive nationwide Out-Of-Home campaign, JCDecaux’s SMARTFRAME digital assets are broadcasting bus arrival times, letting commuters know how far away their next bus is – and just how easy it […]
Rokt has today announced an investment of US$80M. The capital will help accelerate research & development and support the expansion of its client base into new verticals and geographies as Rokt continues to make e-commerce smarter, faster, and better. The funding round was led by Rokt’s largest institutional shareholder TDM Growth Partners , and supported […]
PayPal Australia and Buy From The Bush have joined forces to launch a new online marketplace to showcase rural Australian small businesses in time for Christmas. The expanded partnership aims to build stronger connections between bush businesses and Australians in cities and suburbs across the country. The new Buy From The Bush Marketplace is an […]