Consumers Prefer Short Videos: Meta Explains Why It Is Ending News Deals

Published on June 30, 2024

Meta has said the lack of user interest in news was the reason it decided to withdraw from deals with Australian news organisations. Following the introduction of the News Media Bargaining Code in 2021, social media giants Meta and Google entered into commercial agreements with news businesses across Australia, with the former paying the latter for putting up news on their digital platforms. The deals have resulted in up to $200 million (US$133 million) in extra revenue for new organisations, allowing many of them to maintain and expand their operation. However, in March 2024, Meta announced that it would not renew the contracts, which would expire later this year....

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