Old media deals delivered
Nine Entertainment has signed content deals with Facebook and Google.
Nine Entertainment has secured multi-year content-supply deals with Google and Facebook under Australia's news media bargaining code, which was introduced to force tech media companies to pay for content from more traditional outlets.
The terms of the agreements have not been disclosed, but follow Seven West Media and News Corp, which signed similar deals under the new code.
Nine says it will supply content for Google's News Showcase platform for five years and to a similar Facebook product for three.
The deal will allow Google to expand its marketing ventures across Nine's platforms, which publishes the Australian Financial Review, The Age and The Sydney Morning Herald newspapers.
“The deal with Facebook is for the supply of news video clips and access to digital news articles on Facebook news products,” Nine Entertainment said in a statement on the ASX.
"The five-year agreement with Google includes the supply of news content (excluding video) for Google's News Showcase and other products. Google will also expand its marketing initiatives across Nine's platforms."
Nine says the deal should bring growth of $30 million to $40 million in its publishing unit's fiscal 2022 core earnings.
In March, News Corp reached an agreement with Facebook for content from its major Australian mastheads, including The Australian, The Daily Telegraph and The Herald Sun, and its remaining regional publications.
News Corp struck a similar agreement with Google in February.
Sky News Australia, a subsidiary of News Corp Australia, and Seven West Media have made agreements with Facebook too.