Australia limited teen access to social media. Now it’s trying to get a better deal for news media companies.

The Australian government has devised a new way to wring money out of social media platforms, and this time, news organizations stand to benefit. A proposed News Bargaining Incentive would introduce a new tax for Meta, YouTube, and TikTok, all of which would be required to deliver funding to traditional news providers. The initiative is essentially an updated version of Australia's News Media Bargaining Code, which passed in 2021. That piece of legislation allowed Australia to appoint independent arbitrators for deals between social media platforms and news orgs. That process, in theory, ensured that platforms paid a fair price for access to trusted news sources. Visit Tubefilter for more great stories.