News Corp Australia revenues fall as advertising drops and subscriptions stay flat

Original article by Ben Butler
The Guardian Australia – Page: Online : 9-Aug-19

Rupert Murdoch’s News Corporation has reported a profit of $US155 million ($228 million) for the year to June, compared to a loss of around $US1.5 billion for the previous corresponding period. The company’s News UK division recorded a revenue decline of 10 per cent in the last three months of 2018-19, while News Corp Australia’s revenue was down by seven per cent in the same period. Revenue from News Corp’s subscription division, which includes pay TV unit Foxtel and its on-demand sports service Kayo, was down 13 per cent for 2018-19.

CORPORATES
NEWS CORPORATION – ASX NWS, NEWS CORP AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD

Big Tech inquiry lauded abroad

Original article by Lilly Vitorovich
The Australian – Page: 25 : 5-Aug-19

The final report of the Australian Competition & Consumer Commission’s inquiry into digital platforms has received strong support from the global media industry. News Media Alliance CEO David Chavern says the US government should hold a similar inquiry into the market power of digital players such as Google and Facebook. Meanwhile, the UK News Media Association’s deputy CEO Lynne Anderson says the federal government should act quickly on the ACCC’s recommendations.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, NEWS MEDIA ALLIANCE, NEWS MEDIA ASSOCIATION, GREAT BRITAIN. COMPETITION AND MARKETS AUTHORITY, EUCLID LAW

Stranger Things: Netflix and the challenge of tax in a digital world

Original article by Max Mason
The Australian Financial Review – Page: 29 : 1-Jul-19

The federal government has introduced laws in recent years that aim to ‘claw back’ revenue that international businesses such as Google and Netflix earn from Australian consumers and businesses. However, the laws’ effectiveness could be called in question in the case of Netflix; it is generating hundreds of millions of dollars in revenue in Australia, but that revenue is being booked by a company based in the Netherlands. A Netflix spokesperson notes that its financial practices comply with Australian and international tax laws. Roy Morgan has estimated that 11.3 million Australians were using Netflix in the three months to February.

CORPORATES
GOOGLE INCORPORATED, NETFLIX INCORPORATED, NETFLIX INTERNATIONAL BV, NETFLIX AUSTRALIA PTY LTD, ROY MORGAN LIMITED, FACEBOOK INCORPORATED, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Stop the copycats: Murdoch targets tech titans

Original article by Stephen Drill
The Australian – Page: 17 : 20-Jun-19

News Corporation’s co-chairman Lachlan Murdoch has stressed the importance of investing in journalism for the global media group. He also warned that many news websites merely copy other publishers’ stories rather than producing their own content, and digital search platforms should recognise this and give prominence to companies that invest in journalism. Murdoch also said News Corp will be a growth business after selling the bulk of its entertainment assets to Disney.

CORPORATES
NEWS CORPORATION – ASX NWS, WALT DISNEY COMPANY, NEWS CORP AUSTRALIA PTY LTD, SKY NEWS, REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, WPP PLC

Murdoch siblings catapult up list

Original article by Michael Bailey
The Australian Financial Review – Page: 1 & 2 : 29-May-19

Lachlan Murdoch is ranked 18th on the 2019 Financial Review Rich List, with estimated personal wealth of $18bn. His sister Prudence MacLeod is ranked 22nd and is estimated to be worth $3.1bn. Rupert Murdoch’s other four children are not eligible for inclusion in the Rich List as they are not Australian citizens. The wealth of Murdoch’s children was boosted after they were each given 17 million shares in Walt Disney Company following the media giant’s acquisition of 21st Century Fox. Disney’s shares recently reached a record high.

CORPORATES
WALT DISNEY COMPANY, 21ST CENTURY FOX INCORPORATED, NOVA ENTERTAINMENT PTY LTD, MACDOCH VENTURES, NEWS CORPORATION – ASX NWS, CANVA PTY LTD, ARTESIAN CAPITAL MANAGEMENT (AUSTRALIA) PTY LTD, TEN NETWORK HOLDINGS LIMITED

Google makes its case for news publishers to thrive

Original article by Max Mason
The Australian Financial Review – Page: 19 : 22-Aug-18

The internet as a whole rather than Google specifically has hurt the business model of traditional media companies, according to the technology giant’s vice-president of news, Richard Gingras. He says the Google News Initiative demonstrates the company’s commitment to publishers and quality journalism. Gingras adds that Google’s core businesses of web search and advertising technology are highly dependent on the internet’s "ecosystem" continuing to feature quality content.

CORPORATES
GOOGLE INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FACEBOOK INCORPORATED, SEEK LIMITED – ASX SEK, REA GROUP LIMITED – ASX REA, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, FAIRFAX MEDIA LIMITED – ASX FXJ, CARSALES.COM LIMITED – ASX CAR

Disrupt or be disrupted: Netflix co-founder

Original article by Chris Griffith
The Australian – Page: 21 : 27-Jun-18

Netflix’s co-founder Marc Randolph addressed a conference in Sydney on 26 June. He stressed that companies need to be disruptive themselves in order to avoid becoming a casualty of disruption. He cited the example of former video giant Blockbuster, which declined a deal with Netflix during the streaming video giant’s early years. Blockbuster’s business model was subsequently disrupted by Netflix to such an extent that it is no longer in business. Randolph also said people do not need any skills in order to be innovative and disruptive.

CORPORATES
NETFLIX INCORPORATED, BLOCKBUSTER VIDEO SUPER STORES

Code too complex to regulate, says Google

Original article by Darren Davidson
The Australian – Page: 24 : 1-Jun-18

The search algorithms of digital companies like Google and Facebook are attracting growing scrutiny by regulators such as the Australian Competition & Consumer Commission and the European Commission. However, Google Australia MD Jason Pellegrino has rejected a proposal to establish an algorithm review board, arguing that it would be "unworkable" as Google has multiple algorithms which involve many variables.

CORPORATES
GOOGLE AUSTRALIA PTY LTD, GOOGLE INCORPORATED, FACEBOOK INCORPORATED, YOUTUBE INCORPORATED, AMAZON.COM INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, EUROPEAN COMMISSION, NEWS CORPORATION – ASX NWS, KLEINER PERKINS CAUFIELD AND BYERS, HACHETTE LIVRE

Google flags $400m for journalism

Original article by Max Mason
The Australian Financial Review – Page: 28 : 22-Mar-18

Technology giant Google hopes to improve its relationship with international media companies via its Google News Initiative. Google has committed to investing $US300m ($A389m) in a range of news-related projects, including changes to its search algorithms to ensure that "authoritative" news sources are displayed first in its search results. Meanwhile, the Subscribe with Google project will make it easier for Google users to take out subscriptions with news publishers via Google’s platform.

CORPORATES
GOOGLE INCORPORATED, FAIRFAX MEDIA LIMITED – ASX FXJ, MAINCIHI, FIRST DRAFT, YOUTUBE INCORPORATED, FACEBOOK INCORPORATED

Truth to triumph in Google’s new news algorithm

Original article by Darren Davidson
The Australian – Page: 21 : 21-Mar-18

Technology giant Google has announced a range of initiatives that are designed to assist news publishers to gain more revenue from their content. Amongst other things, Google will change its algorithms to ensure that
"authoritative" news sources are given precedence in its search results, while it will also launch a program which will allow people to subscribe to a wide range of digital newspapers via their Google account.

CORPORATES
GOOGLE INCORPORATED, NEWS CORPORATION – ASX NWS, FACEBOOK INCORPORATED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BUZZFEED INCORPORATED, WPP PLC