Josh Frydenberg’s “world-first” media reform a hand-out to billionaire mates
Josh Frydenberg sallied forth with a fulsome pat on the back this week … for himself.
“The Coalition’s ‘world-first’ Media Bargaining Code was a ‘success’,” pronounced the former Treasurer. A success indeed; a terrific success for the Coalition’s media mates Rupert Murdoch, Peter Costello and Kerry Stokes.
To be fair to Josh, he was only repeating what was in the press. Josh’s “media reforms” had forced Google and Facebook to pay millions in cash (secretly) to Big Media. In return, the News Corp, Nine, Guardian Australia and so forth sang the praises of Josh’s “world-first”. Manufacturing consent is a breeze, you just have to pay people.
This “official Treasury review” is an embarrassment to a once proud institution known for its rigorous analysis and political independence. Either the sharp minds of Treasury don’t know how the internet works or they are wilfully ignorant.
Moreover, the “official report” looks like it has been tampered with, its introductory page glossed up with the words “success”, “world-first” and “performed well”. The rest of this skimpy document touches on some of the problems with the Code but mostly misses the mark.
“We held our nerve, took on the digital giants, and won!” said Josh. No you didn’t, you got played by Rupert Murdoch in return for unctuous news coverage to make you look good, keep you in office.
A world-first joke
Josh’s heroes Margaret Thatcher and Ronald Reagan would be giggling in their graves. This Media Bargaining Code is corporate welfare for billionaires. Worse, it is secretive, anti-competitive, anti-innovation, a world-first joke.
For those who are not au fait with this “world-first”, here it is in dot-points:
Murdoch and Nine whined that Google and Facebook were “stealing our content”. (They weren’t; they don’t publish the content, they publish links to the content, free advertising.)
Josh and co pull out all stops to force Google and Facebook to make cash payments to Big Media. All secret, no effective law or regulatory framework.
Big Media says it’s great.
Google, which had finally begun to pay some tax in Australia, then said forget that, we’ve been extorted.
Treasury issues Code review this week.
A Thatcher or Reagan purist would espouse a policy with free markets, competition, innovation. The Code simply subsidises old media. There has been no “designation”, no “arbitration”, no transparency, no public interest outcome. Just corporate welfare.
And the three greatest challenges of media reform – delivering competition to the Big Media oligopoly, addressing the creeping menace of surveillance capitalism by digital giants Google and Facebook, and defamation reform, remain neglected.
https://michaelwest.com.au/google-giggle-josh-frydenbergs-world-first-media-reform-a-hand-out-to-billionaire-mates/
News Media and Digital Platforms Mandatory Bargaining Code
https://treasury.gov.au/sites/default/files/2022-11/p2022-343549.pdf