Facebook now required to pay for news in Australia, other countries may follow suit: 10 points

The Australian parliament on Thursday passed landmark legislation that paves the way for Google and Facebook to invest tens of millions of dollars in local content deals.

The tech giants will now be required to pay for local news content. While Google will pay for news content that appears on its “Showcase” product, Facebook is expected to pay providers who appear on its “News” product starting later this year.

Big tech firms had fiercely opposed the legislation from the outset, fearing it would threaten their business models. However, after Australia’s judgment, regulators in the European Union and the US are expected to pressurise their government to move on the same lines.