Kerry Stokes urges Albanese Government to tackle tax dodging streamers and social media giants

Kerry Stokes has taken a swipe at the Albanese Government for its weak stance on international streaming companies stealing content and providing minimal value in return to the Australian economy.

Seven West Media’s chairman expressed his frustration at the Government’s soft approach towards social media and streaming giants like Facebook, TikTok and Amazon snatching content from traditional media sources to use on their own platforms.

“(Former Treasurer) Josh Frydenberg sat there and held the streamers to account, and he made them pay a fee for our journalism, and he did that through pure strength of argument,” Mr Stokes said at SWM’s annual general meeting on Thursday.

“The current government doesn’t seem to be able to continue that, because they (the streaming and social media companies) are advising us they aren’t going to continue paying for that service. They think they’ve paid too much for stealing.”

Mr Stokes said government intervention is required to “level the playing field” and this would benefit all Australians.

“You take the whole broadcasting industry together . . . 10 years ago, between us, we’re paying $1.3 billion a year in tax,” he said.

“This year we’ll probably pay, between us, maybe $200 million. Now streamers who took all that revenue pay no tax.

“Ireland just took Apple on and finally made Apple pay tax — $18 billion — so it can be done if you’ve got a strong government with strong leadership who knows how to protect the citizens and how to protect its assets.”

Local news is at risk of being lost if swift action was not taken, according to Mr Stokes.

“Seven and our competitors, at (channels) nine and 10, if we give up you’ll end up having Zuckerberg as your news editor . . . you won’t have local news, you won’t have independent journalism.”