Local radio and TV stations are the most trusted sources of news in the country. As America’s shifts media consumption, the growth of Big Tech is due in part to our content that appears on these platforms.
BIA observed recently:
“Radio and television stations’ local content – particularly news – provides great value for audiences on the major technology platforms. However, broadcasters are not fairly compensated for this valuable content because of the way the markets currently operate. The reason for that is simple – these tech platforms have substantial market power in their provision of services, and they use that power for advancing their own growth and benefit to the detriment of local broadcast journalism.”
A new study by BIA Advisories has documented the value provided by broadcasters.
Based on BIA’s economic models for the value that local broadcasters create for tech platform users but are not able to monetize themselves, examining just Google Search and Facebook News Feed, we estimate a total annual loss of value equal to $1.873 billion.
Big Tech companies are using our own content to create a platform that competes against us. The impact of the current system is to undermine the ability of broadcasters to provide local journalism. One way to solve this problem is to have Congress adopt the Local Journalism Protection Act (JCPA), H.R. 1735 and S. 673. (See previous story) This will allow us to collectively bargain with Big Tech and receive fair value for our content.
To see a copy of BIA’s new study “Economic Impact of Big Tech Platforms on the Viability of Local Broadcast New” click HERE.
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