There has been fund worth $26.9 million for a special committee unit in the Australian Competition and Consumer Commission to monitor and audit digital platform markets and to take action.
The initial inquiry by the new committee will look into the supply of online advertising and ad-tech services.
Media regulation is to be overhauled so that the online platforms are covered in the same way as traditional media.
The initial stage of reforms will look at an even organization outline, whether there should be Australian online content obligations on payment video-on-demand services and will consider ways to boost Australian film and television content.
A voluntary code to address the power imbalance between digital platforms and news media businesses will be finalized no later than November 2020.
If there is no agreement between the organization, a code could be mandated. There should be a review of the Privacy Act to guard consumer data.