Social media giants should be made pay a proportion of their advertising profits to traditional media.This is the call from Fianna Fáil MEP, Billy Kelleher, who is working on the issue as a Member of the European Parliament.But much of their profits are made on the back of work from traditional media and newspapers who are offering content for free to their readers online.
Mr Kelleher is calling for a similar initiative to be proposed as part of the next government’s policies which are being negotiated in Leinster House corridors this week. Mr Kelleher said: “In recent days, the Australian government has introduced a new mandatory code for digital giants that will require them to share revenue with struggling newspapers and radio stations.
“The importance of quality journalism has never been more evident. Yet, unfortunately, it is getting harder and harder to sustain it based on traditional newspaper sales. Of course, digital subscriptions can help, but it is nowhere near what is needed to keep our local newspapers and radio stations operating.
“Obviously, I would prefer to see the digital and social media companies voluntarily coming up with their own proposals to help their traditional media colleagues, but if they don’t, the next Irish government must develop mandatory requirements.“Independent journalism costs money, and here’s a way of levelling the playing field and mitigating the distortion created by the rise of digital media.”
Source: News Formal (newsformal.com)
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