Fb says it would not be considerably impacted if Australian information retailers pulled content material from social media.
The tech large mentioned it and Google had been being unfairly focused by proposed new regulations to force them to pay for news content on their platforms.
In its submission to the competitors watchdog’s draft code, Fb dismissed considerations it shared an unequal market dominance with Google.
“We recognise that there’s advantage in setting regulatory frameworks to offer all Australian media organisations and Australian customers confidence that we’re contributing appropriately within the Australian information ecosystem,” it mentioned.
Fb mentioned adjustments to its newsfeed algorithms to prioritise content material shared by household and pals had seen a drop in folks partaking with information.
Regardless of the adjustments, it saved earning money as extra folks engaged with its service which urged information did not current any worth to Fb.
“Information content material is very substitutable and most customers don’t come to Fb with the intention of viewing information,” it mentioned.
“If there have been no information content material accessible on Fb in Australia, we’re assured the affect on Fb’s group metrics and revenues in Australia wouldn’t be important.”
Fb mentioned whereas it competed with news outlets for advertising dollars, retailers had obtained practically $200 million value of promoting via Fb within the first half of 2020 by posting their content material on the platform.
Counting on personal corporations to prop up Australia’s media trade was unhealthy and being pressured to subsidise a competitor would see promoting costs rise, Fb mentioned.
As a substitute, Fb has proposed requiring extra transparency round how digital platforms rank content material on-line, in addition to the institution of an Australian Digital Information Council to listen to complaints from media corporations.
Fb and Google dominate the digital promoting market, benefiting significantly from the content material of reports publishers on their platforms.
For each $100 of internet advertising excluding classifieds, $47 goes to Google, $24 to Fb and $29 to different gamers.