New Delhi: Social media giants Google and Facebook will have to pay for the news displayed on their platforms in accordance with a new law that is likely to come into force soon, media reports said.
The government is in the final stages of formulating a law that will compel global tech majors to share a portion of the revenue they earn with the digital news publishers for using their original news content.
Earlier, France, Australia, and Canada have enforced similar laws. With the law, they have tried to create a level playing ground for domestic news publishers while negotiating techno commercial contracts with big tech companies.
Alphabet, the parent company of Google and YouTube, Meta owner of Facebook, Instagram and WhatsApp, Twitter, and Amazon, all will be required to share revenues once the proposed law comes into effect.
The need for the law comes from the fact that the global tech giants earn revenue by publishing the original content of the media houses but fail to share revenue fairly as their revenue models are opaque and highly biased towards themselves.