Facebook invests $300 million in U.S. local news outlets

Facebook invests $300 meg in local news outlets globally

Facebook does non indicate if the money volition be also for Canadian media

Facebook is investing $300 one thousand thousand (approximately $389 CAD) into local news outlets globally over the next 3 years.

Campbell Dark-brown, vice-president of global news partnerships at Facebook, said in a January 15th, 2019 blogpost that the money volition go into news programs, partnerships and content.

Brown said Facebook hopes the coin volition help support local journalists and newsrooms "with their newsgathering needs in the immediate future" and help local news organizations "build sustainable concern models, through both our product and partnership work."

"Over fourth dimension, we remember this work can have the added benefit of fostering civic date, which research suggests is straight correlated with people's reading of local news," Brown said.

He added that the determination was brought on after asking what kind of news people wanted to see on Facebook.

"We heard ane consistent respond: people want more local news, and local newsrooms are looking for more support," he said.

Last year in January 2018, Facebook announced that it was going to characteristic more local news stories in its 'News Feed.'

Facebook had cited similar reasons at the fourth dimension for rolling out more local news.

In Canada, during last year's autumn economic update, Justin Trudeau'due south Liberal government announced three initiatives to support Canadian journalism, costing $595-one thousand thousand over five years.

Some observers were pleased and said the contribution could assist news organizations, but opposition Members of Parliament from the NDP and Conservative Party said the authorities isn't tackling the bigger issue, which is that traditional media losing advertizement revenue to global tech companies.

MPs have suggested that perhaps the government should start taxing tech giants like Facebook and Google.

Last August, Facebook and Instagram said they volition begin charging GST by the middle of this year.

Facebook doesn't indicate if any of the funding will be provided to Canadian media outlets.

The blogpost said that the $300 million will come up from the Pulitzer Heart, Report for America, Knight-Lenfest Local News Transformation Fund, Local Media Association and Local Media Consortium, American Journalism Projection, and Community News Project.

MobileSyrup has reached out to Facebook's Canadian representatives and will update the article with more than information on whether the money will also back up Canadian media outlets.

Source: Facebook