Winners and losers
25.03.2024

Meta launches new advertising tools for businesses  

Meta has released new dynamic ad formats to engage customers for retailers on Facebook and Instagram.  

Reminder ads will help advertisers to build awareness and anticipation in advance of launches and events. External links can be added to new products and sales to help turn a person’s interest into a purchase.  

Instagram and Facebook are also making it easier for advertisers to highlight their promotions, helping people discover and apply valid promo codes. Advertisers will also be able to have ads with product tags to quickly direct customers to more information allowing to shop via the ad and make a purchase.  

News vs Meta  

In stark contrast to its efforts to support advertisers, Meta has doubled down on its decision to end payments to Australian news companies as contracts begin to expire.  

The decision has delivered a damaging blow to the revenue sources of media businesses. Criticised by many, including the Communications Minister, Meta argues only three per cent of its content is news related.  

The government is now working through plans to designate Meta under the news media bargaining code, requiring the company to negotiate for payments or risk fines of 10 per cent of its Australian revenue. Meta said it would continue to engage with the government on the matter.  

A win for Australian parents  

The Senate has approved the Labor government’s expansion of paid parental leave (PPL) to 26 weeks and is expected to come into play from 1 July 2025. Designed to encourage families with two parents to share the care, it is the biggest boost to the scheme since it was introduced in 2011. 

In the same week, the Government announced workers accessing PPL would be offered superannuation from the middle of next year. Finance Minister, Katy Gallagher, said the data showed women who take time out of the workforce to raise children retire, on average, with about 25 per cent less super than men. 

The initiatives follow ongoing calls to improve the financial position of women and ensure the PPL scheme is more accessible and gender equitable for Australian families.  

 Uber to payout millions to Aussie taxi drivers  

Uber will pay taxi operators a settlement of $271.8 million in what is the fifth-largest class action in Australian legal history.  

The lawsuit, filed in 2019 by more than 8,000 taxi and hire driver and owners, alleged Uber and its parent company knowingly operated illegally, in particular when launching private car service, UberX. This resulted in an unfair advantage over taxi and hire car drivers who, despite complying with the law, suffered losses in income. 

While there were no ridesharing regulations anywhere in the world when Uber entered the country, today the company is regulated in every Australian state and territory.

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