Australian government advances $250M media levy
- The Australian government is advancing legislative changes to enforce a $250 million annual media levy on digital platforms.
- Industry analysts estimate the revised framework could reduce revenue agreements for major publishers by up to 40%.
- The government stated this policy aims to secure local journalism funding while strictly regulating platform advertising revenue.
The Australian government is advancing a $250 million news levy impacting publishers like Nine Entertainment (ASX:NEC).
The revised legislation increases the digital platform advertising revenue tax from 2.25% to 2.5%.
“The proposed bill now directly penalises those Australian media outlets who have invested more than any others in quality, investigative journalism,” said Nine Entertainment CEO Matt Stanton.
The government stated the legislation allows platforms to offset these financial obligations by executing at least six agreements with local publishers.
Following the announcement, the Nine Entertainment share price was unchanged at $1.01.
The media tax negotiation coincides with broader federal regulatory efforts targeting systemic gambling inducements across digital broadcasting networks.
Parliamentary officials continue to consult with crossbench members to finalise both the technology revenue offsets and the pending wagering restrictions.
