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Indonesia is in the process of drafting a regulation similar to Australia, after which Facebook, Google and other aggregators will have to pay media outlets to carry their content.
What Happened: Indonesian Press Council member Arif Zulkifli said on Thursday that these aggregating platforms benefit from carrying content generated by media companies while “most media receive small profits.”
The digital platforms included in the Indonesian new regulation include Meta Platforms Inc.'s (NASDAQ:META) Facebook, Alphabet Inc‘s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and some local aggregators.
Meta and Alphabet did not immediately respond to Benzinga’s request for comment.
See Also: Meta Attempts To Expand Its Metaverse’s User Coverage To Attract And Retain Users Versus Rivals
The law was proposed two years ago and is inspired by similar legislation in Germany and Australia. It is expected to be issued as a presidential regulation within a month.
The new law will level the playing field between media and tech giants in terms of providing content and generating profit, said Zulkifli, adding that “(There is) no balance in this” for now.
The new law gives power to the Press Council to determine price structures and payment schemes. It will also act as a mediator in the event of a dispute.
In December, the Australian government said that the News Media Bargaining Code, which took effect in March 2021, largely worked. It said internet giants Meta and Google inked over 30 deals with media houses, compensating them for the content that generated clicks and advertising dollars.
Check out more of Benzinga’s Europe and Asia coverage by following this link.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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