FB to pay NewsCrop in Australia for content

I see this as a positive development that can generate several opportunities for industry, governments individuals and society at large.

Although the final result appears to be a collaboration between two large companies, this does have critical takeaways.

Firstly, this does give governments a framework to work with on how to regulate these platform-based companies.

Secondly, this also makes media content represent facts and analysis based on truth and practical and can make companies liable for false and fake news.

Thirdly, it allows news media companies to self regulate and abide by the law of the land, especially in compliant with data protection laws protecting such as GDPR, privacy and copyright matters.
On the other hand, the unintended consequence can be if larger media companies have more say over social media content that may eventually evict smaller news media companies, independent researchers, content creators out of these platforms, making them unable to make it to the larger public’s reach; otherwise, this would have been giving them access to these greater reach via these two platforms. If this is the case, social media can become non-social media, restricting access to some.
One way out of this can be, governments, regulators can work proactively to make accessing these platforms fairer and their reach broader.
The governments could work out a percentage formula on how much content one company can provide in 24 hours, dividing the day and night based on peak time reach and none peak time reach.
The industry can develop norms and invariably monetise their content found in these time slots giving huge opportunity and scope to industry, governments, individuals, and society at large not only to use existing business models but also generate new in the short and medium period.
Emerging interdisciplinary research themes:
Platform economy and government regulations
Social media and fake news
New business models for online media companies
Fake news, copyright and data protection laws
https://www.bbc.co.uk/news/world-australia-56410335
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*This is a personal blog. Any views, opinions expressed in this blog are personal and belong solely to the blog owner and do not represent those people, institutions or organisations that the owner may or may not be associated with within a professional or personal capacity.
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