Congress will hear arguments on Tuesday from those in the news industry who say tech giants like Google and Facebook are threatening their survival and should receive regulatory oversight.
News publishers say that online platforms have control over digital advertising revenue, and that the journalism industry should see more of that money.
A study released Monday, which has sparked debate and received pushback among some in the publishing industry, claims Google made around $4.7 billion in advertising off of the news industry in 2018 — just $400 million less than what the U.S. news industry itself brought in from ads.
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News industry leaders will appear in front of Congress on Tuesday to discuss how tech giants like Google and Facebook have harmed the journalism business.
Adding to the growing calls to scale back the power of major tech companies, representatives from the journalism world are expected to testify in front of the House Judiciary Committee’s subcommittee on antitrust, commercial, and administrative law to argue that Silicon Valley tech companies have threatened the survival of the industry and should receive additional regulatory oversight, the Hill reports.
News publishers say that online platforms …read more
Source:: Businessinsider – Politics