Meta’s lost revenue is a huge hit for public interest journalism, which was already reeling from cutbacks

By Anna Draffin, University of Canberra, Gary Dickson, University of Technology Sydney

Public interest journalism was already under significant stress in Australia. And now the pressure is ratcheting up even further.

While still experiencing the pandemic’s aftershocks, the industry has simultaneously been hit with the increasing cost of doing business, rising costs of living and declining advertising spend. All of this has made it harder to report the news that matters, educates and informs.

With Meta announcing last week it will not renew its commercial agreements with news outlets in Australia – worth an estimated A$70 million per year – it’s not an understatement to say it’s been a bad time for journalism.

Where news in Australia is vanishing

Public interest journalism is a vital service in a healthy democratic society. It creates social cohesion, informs decision making and strengthens democracy.

The funding provided by tech giants under the agreements made as part of the landmark News Media Bargaining Code in 2021 provided a significant source of revenue for media companies.

One regional news company estimated in its submission to the Regional Newspapers Inquiry that once the agreements were fully implemented, the revenue would fund up to 30% of its editorial wages.

But as that money dries up, it’s clear Australia’s public interest journalism sector must find a new way to survive and thrive. And that method must be supported by data that clearly identifies the areas of Australia most lacking in comprehensive, accurate journalism.

The Public Interest Journalism Initiative (PIJI) has been tracking public interest news production in Australia since 2019, and our research reveals a clear divide across metropolitan and regional audiences and markets. Regional and remote areas of Australia have fewer news outlets generally, compared to areas along the east coast and around capital cities.

Overall, PIJI has identified almost 500 changes in news production around Australia since 2019, with the majority of these being contractions.

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