The European Union’s new copyright law, which will require tech giants like Facebook and Google to pay copyright fees for creators when their works are shared on their platforms, setting a powerful precedent for countries trying to extend supervision over the operations of them, including Vietnam. Vietnamese authorities are working on a draft decree that would boost attempts to extend supervision over social networks The EU legislation is good news for newspapers in the EU and has inspired newspapers in other countries, like Vietnam, which have been facing unfair competition from the two tech platforms that are using local articles to earn huge advertising revenues – and then refuse to share with the newspapers themselves. According to the latest data published by Vietnamese market research company ANTS, spending on online advertising in Vietnam in 2018 reached $550 million, including Facebook’s $235 million, Google’s $152 million, and the remaining $150 million divided among local advertising firms. Thus, Facebook and Google accounted for more than 70 per cent of the local online advertising market. Similarly, when the new law was drafted last year, the EU-based newspapers claimed that Facebook and Google have no newspapers of their own, or reporters who readily risk… Read full this story
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