"Now, with a world-first social media ban on Australian children younger than 16 set to take effect on December 10, he is thinking of leaving his Melbourne studio and moving abroad. "We're going to move overseas because that's where the money is going to be," said Barclay, whose seven YouTube channels include EYstreem, Chip and Milo, and Firelight. "We can't afford to keep doing business if advertisers leave Australia.""
"Nine participants interviewed by Reuters in Australia's social media industry, estimated to generate annual revenue of A$9 billion ($5.82 billion), did not put a dollar figure on the ban's impact but agreed it could lead to a drop in advertisers and views. YouTubers, who get paid 55% of ad revenue and up to 18 Australian cents per 1,000 views, could be hit hardest, said social media researcher Susan Grantham at Griffith University. "If it is one clean sweep and all these accounts disappear, then instantaneously, it's going to be detrimental to the influencer economy.""
A world-first Australian law banning social media accounts for children under 16 from December 10 is prompting creators to consider leaving the country. High-profile YouTube creators built multimillion-dollar businesses and reach tens of millions of subscribers, and fear advertiser withdrawal will make local operations unviable. Industry participants estimate the sector generates about A$9 billion annually and expect declines in views and ad revenue. YouTubers receive 55% of ad revenue and up to 18 Australian cents per 1,000 views, and platform algorithms and follower counts could shrink, reducing earnings and sponsorship opportunities. Penalties for systemic breaches can reach A$49.5 million.
Read at Yahoo News
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