In today’s ExchangeWire news digest: Facebook restores news sharing in Australia after reaching a last-minute compromise with the government; TikTok and Shopify partner to offer in-app ad campaigns to UK merchants; and Australia’s OMA reveals out-of-home advertising’s 2020 revenue results.
Facebook will overturn their ban on news sharing in Australia. The decision, announced yesterday (23
rd February) comes after the social media giant reached a last-minute deal with the Australian government.
The new agreement, presented by treasurer and leading proponent of the News Media Bargaining Code Josh Frydenberg, will see Facebook and Big Tech compatriot Google invest substantial amounts into the nation’s waning news sector instead of being forced to arrange costly financial agreements with individual media outlets.