Abstract

Taken at face value the introduction in 2021 of Australia’s News Media and Digital Platforms Mandatory Bargaining Code (“the Code”) may appear “world leading,” innovative, and, in general, a productive and strategic intervention to reverse the decline of public interest journalism. It is claimed that in the Australian news industry context, an annual transfer of around $200 million between two platform companies – Google and Meta – and news businesses has now been put in place (Sims, 2022). All major news media companies in Australia, if not smaller more independent ones, have greatly benefitted from the new Code, and anecdotally it appears that the funding has resulted in the creation of significant numbers of new journalists being hired. Yet the exact investment destination and ultimate beneficiaries of the funding are not known beyond the corporate walls of the recipients. The article points to the transparency and sustainability problems inherent to the new Code, arguing that an alternative approach to funding public interest journalism might be a levy funded by the platforms.