Recently, we saw how the Australian government struck out at Facebook and Google, two of the biggest global technology giants, and pointed out how the tech majors stand in a position where they can abuse their market power. Australia took action against the abuse by passing the news media law and now the Australian media gets the rightful share of the revenue.
Following the steps taken by the Australian government, many reports suggest that the Canadian government is also considering the imposition of restrictions on revenue sharing between technology companies and news publications.
In France, Google has signed agreements with six French print publications including prominent ones like Le Monde and Le Figaro. There is also expected a domino effect of this in some of the European Union (EU) countries.
In the US, there is growing support for a law that allows collective bargaining by the news industry to make tech giants pay for news content.
In an interview with Storyboard’s Shibani Gharat, Paritosh Joshi, Independent Media Consultant and Ashish Bhasin, CEO APAC & Chairman India at Dentsu Aegis Network discussed at length on how Indian news media can take a cue from all of this. What is needed to be done and can the government or regulatory intervention help?
For entire discussion, watch the video.