Australian Prime Minister Anthony Albanese criticized Meta executives on Saturday, calling them “arrogant” for deciding not to renew a commercial agreement with Australian media outlets. Albanese expressed his disapproval, stating that these companies should have a sense of social responsibility. He emphasized the importance of journalism and how many Australians rely on social media for their news.
The decision by Meta to end the agreement has had repercussions, with several media conglomerates announcing staff cuts as a result. This includes Nine Entertainment dismissing 200 staff members, Seven West Media reducing 150 positions, and News Corporation letting go of 80 employees. These cuts were attributed to a weak advertising market and the end of the commercial agreement with Meta.
Albanese stressed that social media platforms like Meta should recognize their social responsibility and honor the commitments they have made to the media industry. Meta’s decision not to renew commercial agreements in Australia, Germany, and France has been met with criticism by the Australian government. The government believes that media outlets deserve fair compensation for the content they provide and that platforms like Google and Facebook should pay for this content.
In 2021, a law was passed in Australia requiring platforms like Google and Facebook to pay news media outlets for publishing their content. Meta and Google have paid an estimated 200 million Australian dollars to media outlets as compensation. The situation has brought attention to the importance of funding journalism and ensuring that media outlets are fairly compensated for their work.