Pressure Mounts on Australian Journalism as Meta Pulls Funding

Public interest journalism in Australia is facing a significant blow as Meta announces the discontinuation of commercial agreements with news outlets, amounting to approximately AUSD 70 million annually. The move comes at a challenging time for the industry, already grappling with the aftermath of the pandemic, escalating business costs, and dwindling advertising revenues. The shift not only impacts the revenue streams for media companies but also underscores the vulnerability of public interest journalism in delivering crucial news and fostering democracy. As the industry navigates these challenges, the need for comprehensive data to identify areas lacking in robust journalism becomes paramount. Analysis by the Public Interest Journalism Initiative reveals a stark contrast between metropolitan and regional news coverage, with a concerning number of contractions and closures observed across various markets. The emergence of news deserts raises alarms about the diminishing accessibility to vital information in certain regions. In the face of this crisis, calls for supporting a not-for-profit journalism sector and exploring innovative revenue avenues gain traction. The focus remains on leveraging data, fostering collaboration, and adopting policy measures that can sustain and revitalize the public interest journalism landscape in Australia.