Facebook has kicked against sharing it’s advertising revenue with the Australian government and Media as suggested by authorities in the country.
Australia’s two biggest media companies, News Corps and Nine Entertainment have been pushing for foreign social media companies to share revenues from news content on their platforms.
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Australia had also announced plans to force Facebook and Google to share advertising revenues they earn from news featured on their platforms.
The US Tech company however pushed back on Monday saying it would rather cut news content from its platform than share revenue with the Australians.
The tech giant said news content only makes up a very small fraction of the content in the feed of an average user.
“If there were no news content available on Facebook in Australia, we are confident the impact on Facebook’s community metrics and revenues in Australia would not be significant.”
Given the social value and benefit to news publishers, we would strongly prefer to continue enabling news publishers’ content to be available on our platform.”