Why Government Must Make Google Facebook Pay for Content
Giant needs to Act
How can Facebook and Google walk away without sharing, for using local news content? India is the world’s largest democracy and second-largest online market.
India a key player in the fight
Australia is ahead in the game with its new law on the GAFAM and internet content. India is also taking big tech directly. The government should support local tech champions as a part of its Atmanirbhar policy.
Australia and Pay Out
The new law has already put in payment obligation on the big tech. PM Scott Morrison has already called for a global alliance of democracies to make Google and Facebook pay for the news they profit from.
India is silent as of now but the EU has launched investigations. The US however seeks remedial actions.
Reasons why GAFAM must Pay
-Foundation of Democracy is from the credible news that flows from established news and media houses
-Producing credible news is costly.
-The latest data says the Internet as a distribution medium for news is now dominated only by these to companies with almost 80% traffic.
-Publishers are hit as the ad revenues are then taken by these two giants. longer-term, it creates a monopoly
-Impact will hit the publishers which in turn causes a finance crunch resulting in bankruptcy or the closing down of publishing houses.
-The result is the death of credible news.
What if they Pay
-Financial Viability in domestic news and credible news publishing
-The government earns more taxes, Job creation sees a momentum
India is a growing market and no tech giant can ignore the country and markets. India should begin gradually on the policy framework. India needs an Atmanirbhar news industry!