Indian publishers go Australia-like deal with Google
Australia led the way in making Google and Facebook pay media outlets for their content, most of the Indian media houses have now begun pushing for a similar legislation to save the dwindling print media business in the country. According to the publishers, while the tech giants have earned billions using the content produced by these media companies, they have never paid media outlets their fair share to use the articles. Now, publishers are not only in conversation with the tech giants to negotiate revenue share but are also looking at government support in settling the deal.
According to Indian Newspaper Society (INS), backed by the credibility that print promises to its readers, Google gets hundred percent authentic news from publishers helping them in their fight against fake news and also generating huge revenue. As for Google earning through news, the category has been the highest source of revenue for the company. In October 2020, Google parent company Alphabet reported its Q3 2020 earnings. The search engine giant posted total revenue of $46.2 billion. The revenue was up 14 percent from $40.5 billion in Q3 2019. The net income stood at $11.2 billion for the quarter, against $6.96 billion last quarter. Revenue from advertising stood at $37.09 billion, which was up from $33.79 billion in Q3 2019.