Facebook says its business could afford to get rid of news
A competition watchdog in Australia released a proposed code of conduct for Facebook and Google that would force them to pay for linking off to news sites.
Although this dispute is happening in Australia, Facebook's remarks are a signal to publishers agitating for tech giants to compensate the media as revenue continues to erode.Visit Business Insider's homepage for more storiesFaced with the prospect of having to pay for running news on its platform, Facebook issued a clear message to publishers: We don't need you.
In a submission to the ACCC on Monday, Facebook said there is a "healthy, competitive rivalry" between itself and news publishers,. It added that it could get rid of news from its platform without any major impact on its business as news only makes up a "very small fraction" of what users see on their news feeds.
"If there were no news content available on Facebook in Australia, we are confident the impact on Facebook's community metrics and revenues in Australia would not be significant."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the hospital at Javits Center, from Navy Reserve officer - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
PRESENTING: An inside look at winners and losers of fitness industry - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Inside Sallie Krawcheck's Ellevest: Assets trail digital wealth rivals - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Facebook's refusal to remove a post by Trump still won't hurt its ad business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Goldman Marcus UK pauses new accounts - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Chris Cox returns to Facebook, raising questions on his dispute with Zuckerberg - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »