Seven finalises news content deals

Seven West Media yesterday finalised a five-year content-sharing deal with Google and signed another three-year deal with Facebook.

The value of the deals has not been disclosed and will see Google paying to feature content from Seven West’s publications on Google showcase.

Seven West managing director James Warburton said the agreements underscored the value of the company’s content.

“The transformation of Seven West Media continues,” he said.

“Finalisation of the Google and Facebook agreements completes one of the key objectives outlined in our February results, delivering further digital transformation, and realising the true value of our news and current affairs product on third party digital platforms.”

Letters of intent to sign the deals were first announced in February, ten days before the passage of the federal government’s News Media Bargaining Code.

The code establishes a mandatory code of conduct between digital platforms and Australian news businesses, which does not apply to platforms that establish commercial bargains with news businesses outside of the code.

Mr Warburton said work of Prime Minister Scott Morrison, Chair of the Australian Competition and Consumer Commission Rod Sims, Treasurer Josh Frydenberg, and Communications Minister Paul Fletcher on the Code was instrumental in securing the deal.

The revenue will begin to be delivered before the end of the current financial year, with the majority to be derived in FY22.

Mr Warburton said the company is expecting to see market share and audience growth among the 25-34 age bracket within the fourth quarter of the 2020/2021 financial year.