Australia To Make Digital Platforms Pay For Information
Here is the latest in technology industry scrutiny by governments around the world, increasingly worldwide.
Australia passes law making digital platforms pay for news content
The Australian Parliament ratified a “mandatory bargaining code for news media and digital platforms” on the “imbalance of bargaining power between news media companies and digital platforms” according to a joint press release by Treasurer Josh Frydenberg and the Minister for Communications, Urban Infrastructure, Cities and Towns Paul Fletcher.
“The code will ensure that media companies receive fair compensation for the content they generate, which will help uphold public interest journalism in Australia,” said the press release, which found that the law was after a In-depth study of Australian competition was drawn up and Consumer Commission (ACCC).
India reveals new rules for governing digital platforms
The Indian government has published comprehensive new regulations for social media websites, online news providers and streaming platforms, the RFI reported. IT minister Ravi Shankar Prasad said at a press conference, according to the outlet, that social media companies “would like to do business in India, but must obey the laws established in India”.
India’s new rules would mandate that tech platforms have greater responsibility for controversial content on their websites and that they appoint corporate leaders to work with the country’s authorities. In addition, the regulations prescribe a three-tier regulatory system for over-the-top services (OTT) such as YouTube and Netflix.
US Scuttles “Safe Harbor” provision for international taxation
Janet Yellen, the US Treasury Secretary, informed G-20 leaders that the US has abandoned the Trump administration’s proposals to allow select companies to choose not to abide by new international digital tax regulations, reported CNBC. “Secretary Yellen announced that we will be working intensively on both pillars of the OECD project and that the United States is no longer committed to implementing Pillar 1 in the safe haven,” an undisclosed US Treasury representative said, according to CNBC .
House subcommittee holds antitrust hearing
The House of Representatives Antitrust, Commercial, and Administrative Law Subcommittee held its first hearing – of several scheduled hearings – to “consider legislative proposals to combat the rise and abuse of online market power and modernize antitrust laws,” Marketwatch reported on February. 25. The hearings will build on the committee’s investigation into which both parties were involved in the field of digital competition. “Mark my words: change is coming. Laws are coming, ”said US Representative David Cicilline (D-RI) in an opening speech according to Marketwatch.
Reliance works with Facebook, Google is bidding for the digital payments license in India
Reliance Industries, India’s largest company by market value, is reportedly looking to partner with Google and Facebook Inc. to obtain a digital payments license from the Reserve Bank of India. The move would also include Infibeam Avenues Ltd. include, a domestic technology services company.
Twitter wants to introduce subscription offer
Twitter Inc. plans to introduce a subscription offer for content creators to double annual revenue and accelerate user growth in the years to come. The Super Follows subscription allows users to be paid for content. Ads accounted for 86 percent of the company’s sales in 2020. However, by switching to subscriptions, the social media company has been able to rely less on advertising.
NEW PYMNTS DATA: HOLIDAY SHOPPING RETROSPECTIVE STUDY – FEBRUARY 2021
About the study: The Retrospective Study of Shopping On Vacation: Insights into Merchants for 2021 and Beyond, a collaboration between PYMNTS and PayPal, examines consumer shopping practices and preferences during the 2020 holiday season and what these mean for merchants now and for the upcoming holiday seasons. The report is based on a census among 2,070 US consumers.