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Rajya Sabha MP Sushil Modi said in Parliament Wednesday the Narendra Modi government should enact a law, like what Australia has done, to make tech giants such as Google and Facebook share advertisement revenue with traditional news media, which he said was “in deep financial crisis”.
He said Google, Facebook and YouTube end up benefiting from efforts of the traditional news media that invest efforts to collect, verify and disseminate “credible information”.
Stating that advertisement is the main source of revenue for the news industry, the MP said Google, Facebook and YouTube have taken away “the largest share of advertisement”.
“We all know that these traditional news media, they make heavy investment employing anchors, journalists, reporters. They gather the news, they verify the news and they deliver credible information. Advertisement is the main source of revenue for the news industry. But in the past few years, with the advent of tech giants like Google, Facebook and YouTube, the largest share of advertisement is taken away by these tech giants.”
Mentioning the law, the MP said in Rajya Sabha: “In Australia, Google threatened and for one week they blacked out the news on their portal, but ultimately it was enacted and they had to surrender.”
Modi said Australia has set a precedent, and India should follow it.
Enact law to make Google, FB, YouTube share ad revenue with news media: Sushil Modi tells govt
He said Google, Facebook and YouTube end up benefiting from efforts of the traditional news media that invest efforts to collect, verify and disseminate “credible information”.
Stating that advertisement is the main source of revenue for the news industry, the MP said Google, Facebook and YouTube have taken away “the largest share of advertisement”.
“We all know that these traditional news media, they make heavy investment employing anchors, journalists, reporters. They gather the news, they verify the news and they deliver credible information. Advertisement is the main source of revenue for the news industry. But in the past few years, with the advent of tech giants like Google, Facebook and YouTube, the largest share of advertisement is taken away by these tech giants.”
Mentioning the law, the MP said in Rajya Sabha: “In Australia, Google threatened and for one week they blacked out the news on their portal, but ultimately it was enacted and they had to surrender.”
Modi said Australia has set a precedent, and India should follow it.
Enact law to make Google, FB, YouTube share ad revenue with news media: Sushil Modi tells govt
