Nine Entertainment Co Holdings has signed multi-year content-supply deals with Google and Facebook under Australia's news media bargaining code.
The media firm will supply content for Google's News Showcase platform and to a similar Facebook product for three years. Photo: AFP
The agreement, terms of which were not disclosed, comes after rivals Seven West Media and News Corp signed similar deals following the enactment of tough laws to make US tech giants pay for displaying news on their platforms.
The multi-media firm said it would supply content for Google's News Showcase platform for five years and to a similar Facebook product for three years.
Google would also expand its marketing ventures across Nine's platforms, the publisher of the Australian Financial Review, The Age and The Sydney Morning Herald newspapers added.
After considering these new deals and ongoing subscription revenue for Nine's mastheads, the Sydney-based company said it expected growth of $A30 million to $A40m ($NZ32m to $NZ43m) in its publishing unit's fiscal 2022 core earnings.
- Reuters