Facebook deal with 10 revealed

Details have emerged of the contract between Network 10 and Facebook.

After parent company Meta signalled its plan to cease paying Australian media for news, the Australian Financial Review published details of two deals signed in 2021.

They indicate 10 was required to post a minimum number of videos from programs including The Project, 10 News First, Studio 10 -or if unable, equivalent videos (given Studio 10 ceased in December).

The first contract started on June 15, 2021 between Network Ten Pty Ltd and Facebook Ireland Limited revealed 10 would be paid USD$2,750,000 plus GST per annum for the 3 years that content is posted.

“Once Facebook has recouped the fee expenditure in net revenue, Ten will be entitled to a 55 per cent share of any additional net advertising revenue,” it indicated.

The second contract was for $US400,000 a year, paid in $US33,333.33 monthly incrementss between July 1, 2021, and June 30, 2024, and was an “agreement to monetize articles created by The Project on the Facebook News Surface platform via a content feed from 10Play”.

10 agreed to post a minimum of 6000 clips a year, 125 a month from Studio 10’s dedicated page, and a further 1000 clips from The Project. Clips had to be posted no later than six hours after the show ended, except for The Project, which could be up to 12 hours. Videos were “non-exclusive”, meaning 10 could share them on other platforms, like YouTube.

Last week Free TV, Nine and Seven called on the government to designate Meta under its News Media Bargaining Code, a sentiment now echoed by 10.

“It is essential that Australian news media services are fairly remunerated for their trusted, local and impartial news content. Without fair compensation, it becomes increasingly difficult for news organisations,” a 10 spokeswoman said.

“We urge the government to designate Meta under the News Media Bargaining Code but further implore them to expand the code to cover video specific platforms, that also reap significant value from sharing news content across their services.”

“The Australian Government is committed to the News Media Bargaining Code and is seeking advice from Treasury and the ACCC on next steps,” Assistant Treasurer and Minister for Financial Services and Communications Minister Michelle Rowland said in a joint statement on Friday.

You can read more at the Australian Financial Review.