Meta has been facing compliance challenges from Australian lawmakers, which may soon result in Facebook banning news content from Australia.
Meta has a product suite that covers almost the entire globe. However, the company has recently faced compliance-related issues from Australian lawmakers. As a result, it may soon block news content coming from Australia on one of its key social media platforms, Facebook. Though the step ensures fewer controversies, it may potentially devalue Meta Stock in the international share market.
Mia Garlick told the lawmakers that all options are on the table when asked if the company is planning to block news content from Australia. She said, “There's a large number of channels that people can get news content from.” She also clarified that the company is waiting for a final go-ahead from Canberra to decide if it would apply an untested law of 2021, which gives the government the right to set a licensing fee on the platform.
Similar to this incident, Meta took a hardline approach toward newly introduced laws in Canada when the company rejected licensing fees to the government and media outlets for posting links on the platform. Meta has already signed deals with media firms, including News Corp, and the Australian Broadcasting Corp. But it also claims that the contract will not be renewed. It is now in the hands of Australia’s Assistant Treasurer to decide whether to step in and enfore payment for news content on Facebook. The Treasurer has stated that the tech giant chooses to oblige to laws as per its convenience, and it should not be the standard norm anymore.
Multiple leading media outlets are planning to cut jobs owing to the steep fall in revenue, once Meta ends the deal. "Every other law - tax laws, safety laws, privacy laws - we work to comply with," said Mia Garlick. "It's just compliance would look slightly different in relation to this law if it's fully enacted."
Garlick has also defended Meta's processes for Australians, stating that they can complain about the spread of harmful misinformation or scams, and they will be addressed on priority. Meta is also facing a lawsuit from Australian mining billionaire Andrew Forrest, for running cryptocurrency scam advertisements without surveillance. Amid ongoing controversy, the tech giant has launched its dedicated Meta AI app in India to expand features and overall user experience.
