Tech Giants Google and FB To Share Revenue With News Outlets: New IT Law
- Government alters Income Tax laws for major tech giants
- Digital News Publishers to benefit from the revised law
- Earlier, Canadian Government took a similar decision
New Delhi: The Government of India on Saturday gave good news to the digital news platforms. The online news portals may soon receive a share in revenue of tech giants for the content being displayed online.
The Government through a revision in in the IT Law is planning to channelize a share of profit earned by tech companies when they use digital platforms for showing up their content. The regulatory intervention will benefit newspapers in India and other online news portals to a large extent.
The news content displayed by media houses in India on various tech platforms like Google, Facebook etc help the tech companies to earn a big revenue. Therefore, this step of Government can be viewed as a step towards maintaining parity in sharing of profits from both ends. The existing system is inclined towards giving more liberty and advantage to tech companies because of the current opaque revenue models.
Meanwhile, in 2021 the Indian Government also planned to direct the companies publishing their news content on various portals, pay for the same. In Australia and France, these tech majors have been strictly ordered to enter in to an agreement and share their revenues in the manner prescribed therein .
