The WCJ, joined by local and international organisations, recently participated in the Big Tech and Journalism conference hosted by the Gordon Institute of Business Science (GIBS), and endorsed the Principles for Fair Compensation which seek to guide development of mechanisms that support media sustainability in a variety of contexts.
At the time of writing, the Principles have subsequently been endorsed by over 78 people in 25 countries, with support from leading journalists, media organisations, scholars, publisher groups, activists and economists, including 2001 Nobel Laureate Professor Joseph E. Stiglitz.
These principles are intended to help in the design, implementation and evaluation of public policy mechanisms that oblige digital platforms and news publishers to engage with each other to develop fair economic terms. The principles recognise freedom of expression as a foundational human right underpinning democracy and support public interest journalism as a public good that should be available to all. Any mechanisms pertaining to the principles must therefore be founded on the same commitment.
The Principles are intended to be universal, serving as a framework for any country seeking to address media sustainability through competition or regulatory approaches, while enabling adaptation to the unique context. It is hoped that the Principles will represent an important step forward in addressing news media sustainability and serve as a guide to journalists, news publishers, Big Tech platforms, governments and regulators across the world.