The Age
·general
·2 hours ago
Meta’s Australian cash machine: $1.5 billion shipped offshore
Meta's Australian operations generated $1.74 billion in advertising revenue last year, a 19 percent increase from 2024. However, it shipped $1.51 billion to its parent company, resulting in a net revenue of only $223.9 million. Draft legislation to ensure tech giants compensate news publishers is expected to be unveiled.
Summary by Glance · The Age
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