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Broadcasters v social media: Inside Meta's Australian media deal

Author
Newstalk ZB,
Publish Date
Mon, 4 Mar 2024, 7:20PM

Broadcasters v social media: Inside Meta's Australian media deal

Author
Newstalk ZB,
Publish Date
Mon, 4 Mar 2024, 7:20PM

While New Zealand's media industry struggles to survive, their Australian counterparts are battling setbacks from social media giants.

Facebook's parent company, Meta, recently confirmed it wouldn't renew commercial deals with news publisher Network 10.

Australian Financial Review media reporter says it's likely Meta never believed they were going to see much profit out of this deal.

"There was a line in the summary of this contract, which was- there is no expectation that 10 would earn additional revenue, which I think is an implicit acknowledgement." 

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