The Albanese Government is putting Australian journalism on a more sustainable footing with the passage through Parliament of the News Bargaining Incentive and the News Journalism Payments scheme.
The NBI encourages digital platforms with significant social media or search services to do deals with news businesses for the content they use.
It fixes a loophole in the News Media Bargaining Code where a digital platform could withdraw news and avoid obligations under the Code.
With the NBI in place, platforms will benefit from doing deals with at least eight news businesses by paying a lower rate than if they simply paid the Incentive.
However, if they elect not to do deals, the funds will be returned to the news media sector to support journalism across Australia through the News Journalism Payments scheme.
The legislation is here, and the message to platforms to pursue commercial deals is clear. Deals will need to be finalised before the end of a digital platform’s financial reporting period to be used to offset their liability in that period.
This is an important day for Australian news businesses and Australian journalism.
Quotes attributable to the Minister for Communications and the Minister for Sport, Anika Wells MP
“Journalism is an essential part of a strong democracy, it holds people, businesses and governments to account, which is why the Albanese Government is backing a strong and sustainable media sector.
“These laws also back smaller and regional publishers which are so important in providing communities with a voice.”
Quotes attributable to the Assistant Treasurer and Minister for Financial Services, Daniel Mulino MP
“We are delivering on our commitment to support Australian journalism and encourage digital platforms to do deals.
“Strong Australian public interest journalism matters to the diverse range of communities it serves, and it matters to the nation as a whole.”