The New Zealand government said it will introduce a law that will require big online digital companies such as Alphabet Inc's Google and Meta Platforms Inc to pay New Zealand media companies for the local news content that appears on their feeds. Minister of Broadcasting Willie Jackson said in a statement on Sunday that the legislation will be modelled on similar laws in Australia and Canada and he hoped it would act as an incentive for the digital platforms to reach deals with local news outlets.
Meta Platforms (NASDAQ: META) has suffered an epic collapse over the last year. While that's all bad news, what's already happened to Meta stock shouldn't matter at this point. What does matter is if the stock offers a good value at its current price, or if the discounted value of future cash flows is greater than the current valuation.
After years of resisting the idea of advertising, Netflix (NASDAQ: NFLX) has done an about-face on the strategy. Its ad-based tier, priced at $6.99/month in the U.S., launched in November and is now live in 12 countries. While it's too early to get any data on the performance of the ad-based tier, and the company has said it doesn't expect that offering to be material in the fourth quarter, Netflix co-CEO Reed Hastings made some comments at the New York Times DealBook conference that should stoke investor confidence in the ad business.