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Australia Stealing Google's Lunch Money

Australia's new code on content reuse

A new Code of Conduct.

Treasurer Josh Frydenberg said that Australian government is going to adopt a mandatory code for Internet Companies like Google and Facebook that will make them pay for using local media/publishers content (media / Articles alike) on their platforms.
The guidelines for sharing ad Revenue was reported earlier by Reuters
His Article in the The Australian Friday revealed his plans for implementing a voluntary code by November 2020.
He put's it that in order to “protect consumers, improve transparency and address the power imbalance between the parties” — had failed owing to “insufficient progress.”
As if now ACCC (Australia’s competition commission) is working on the code that will include provisions related to value exchange, revenue sharing, transparency of ranking algorithms, access to user data, presentation of news content, penalties and sanctions for non-compliance.

Plan is to have a Draft open to suggestions by july and after all the modification it gets legislated before November.

he Said,

“It is only fair that the search engines and social media giants pay for the original news content that they use to drive traffic to their sites.”

Google explain's

Googles argument for all this is that it provides value to media/publishers by directing traffic to their websites, where they can monetize it via ads and/or subscription conversions,
they also stated that in 2018 alone it sent in excess of 2 billion clicks to Australian Media from native users.
even after all that, Google said it would continue to cooperate with plans for the media code of conduct.

a Google Spokeperson Said,

“We have sought to work constructively with industry, the ACCC and government to develop a code of conduct, and we will continue to do so in the revised process set out by the Government today,”

My Openion

Google is a Search Engine.

people hire SEO experts to Rank higher, so that their content could be found with ease.
what Australia is trying to empose is, that they are going to charge google if google will rank their content..?? I mean what the Duck !!!
See google has to add a descriptive snippet from the creators content to make it easier for the user to choose what to click on.
All that is in the best interest of the people and the content creators as, they will only get the audience that intent to feed on their content / Click on affiliate links.
I understand that this move is a outcome of declines in advertising revenue due to the on going coronavirus pandemic. But this trend will impact search results heavily.

If it followed a Domino Effect then its going to affect the quality of content we are getting, Which is definately a step back.