One of the biggest news publishing companies in the world has slowly backed away from its harsh public criticism of Big Tech platforms, as companies like Google and Facebook have begun to open up their wallets to news companies.
Why it matters: News Corp. has for years been the driving force behind much of the regulatory scrutiny of Big Tech and its impact on the publishing industry. Now it's becoming a beneficiary of the massive pockets of several of the largest tech companies.
Driving the news: News Corp. CEO Robert Thomson put out a statement lauding Google's new efforts to pay publishers around the world more than $1 billion to license and curate their content last week.
Catch up quick: In early 2018, News Corp. Executive Chairman Rupert Murdoch released a newsy statement calling on Google and Facebook to pay trusted publishers a carriage fee for their content similar to the model adopted between cable companies and TV networks.
State of play: News Corp. now has several partnerships with Big Tech firms, including significant paid licensing partnerships with Facebook and Apple News, as well as working partnerships with Amazon, Spotify, Snapchat and Twitter.
Between the lines: In 2019, News Corp. launched its own news aggregation service called Knewz. Sources familiar with the effort say it was never intended to be a market threat to Big Tech platforms, but rather putting into reality something the company wanted to invest in as a matter of principal.
Behind the scenes, the media giant has commented or consulted on numerous investigations into Big Tech's dominance, and is continuing to press for regulatory reform.
The big picture: There was a time several years ago that media companies, with proper investment and scale, could demand big ad dollars via traffic from platforms like Google and Facebook. Today, media companies with value and investment can pull something even more sustainable from those platforms: licensing fees.
Excerpt from:
News Corp. changes its tune on Big Tech - Axios
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