Meta Threat to America Government: There is a conflict between Meta Platforms Inc., the parent company of Facebook, the largest social media platform, and the US government. The reason for the clash is a law the US government is preparing to pass, and Meta is opposing it.
In this regard, Meta Platforms Inc. has said that if the US Congress passes the Journalism Competition and Preservation Act, it will be forced to remove the news from its platform altogether. The company says that this law will benefit broadcasters from posting their content.
What Do Meta Officials Say?
The act will make it easier for news companies to collectively negotiate with Internet giants such as Meta and Alphabet Inc. Meta spokesman Andy Stone said in a tweet that the act fails to recognize that publishers and broadcasters put content on the platform because it benefits their bottom line – not the other way around.
Meta Shuts Down News Feed In Australia
A government report said a similar Australian law, which came into effect in March 2021, made negotiating with big tech firms easier. But after this, Meta closed its Facebook news feed there.
The report says that since the News Media Bargaining Code took effect, various tech firms, including Meta and Alphabet, have struck more than 30 deals with media outlets, compensating them for content that generates clicks and advertising dollars.
Big Challenge In Front Of Meta
Let us tell you that in the last year, Meta is continuously falling. His losses are increasing. Meta’s profits have declined drastically in the third quarter (July-September) this year. It has come down to $4.4 billion, which was $9.2 billion in the same quarter last year. Apart from this, if we look at the company’s revenue, it has fallen by 4 per cent from the same quarter last year. Meta’s revenue fell to $27.71 billion from $29.01 billion in the same quarter last year.
