SOCIAL media giant executives could be jailed and their companies fined billions of pounds if they fail to quickly take down violent and terror-related content.

Australia could become the first country to introduce prison terms and fines if firms fail to speedily remove terror videos like the Christchurch massacre live-stream.

Prime Minister Scott Morrison is set to introduce the new bill to Parliament next week after the slaughter of 50 people at two mosques was broadcast live on Facebook.

The proposed new laws would cover "abhorrent violent material", such as videos that showed terrorist attacks, murders or rapes.

The Australian government will seek to put two new sets of offences in the criminal code.

It will be a criminal offence for social media platforms, which as Facebook, Twitter and YouTube, not to remove abhorrent violent material quickly.