Hold Facebook and Google to account

Hold Facebook and Google to account, by Josh Frydenberg, the Australian Treasurer.

For every $100 spent by advertisers in Australia on online advertising, excluding classifieds, $47 goes to Google, $24 to Facebook and $29 to other participants. In Australia, this market is worth almost $9bn a year and has grown more than eight-fold since 2005.

In a groundbreaking report that took 18 months to prepare, the Australian Competition & Consumer Commission found that more than 98 per cent of online searches on mobile devices are with Google, while Facebook has approximately 17 million users who are connected to its platform for at least half an hour a day.

This has created a level of market concentration and power that was never envisaged by our regulatory system. …

It is only fair that the search ­engines and social media giants pay for the original news content that they use to drive traffic to their sites.

By way of example, the ACCC found that between 8 and 14 per cent of Google search results included reports from news websites.

Other academic studies have found that the majority of people who access their news online do so via social media or methods other than going to the original news source.

Google became evil. Ditto Facebook. They only want to tell you their version of the news. They suppress non-PC truths.