News content

Meta will no longer pay US publishers for news content

After Meta’s revenue dipped for the first time in its history, the company reportedly told publishers it would no longer pay for content to run on Facebook’s News tab, according to Axios. “Most people don’t come to Facebook for information, and as a business, it doesn’t make sense to overinvest in areas that don’t align with user preferences,” a spokesperson said. in a press release.

Facebook has spent around $105 million on such deals, paying $20 million to The New York Times$10 million for The Wall Street Journal and $3 million for CNNaccording Axios. Facebook made the deals in 2019 as it ramped up its investments in news and even hired journalists to drive traffic to the news tab.

Facebook has also promised to remunerate partner sites whose The Guardian and The Economist for news in the UK when he launched the News tab there in late 2020. Shortly after, he signed a deal with Rupert Murdoch’s News Corp to pay for content in Australia, after Parliament Australia passed a law requiring Facebook and Google to do so. .

Along with Google, Facebook has been criticized for diverting advertising dollars from dedicated news sites. This has contributed to the failure of a quarter of US news sites over the past 15 years, according to Pointerthe void in professional journalism often being filled with false or misleading information on Facebook.

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