Following in the footsteps of Google, Facebook says it plans to invest $ 1 billion over the next three years to “support the media industry.”
The social media giant, which has clashed with Australia over a law that would force social media platforms to pay media outlets, said it had invested $ 600 million in news since 2018.
Google said in October that it would pay publishers $ 1 billion over the next three years.
News companies want Google և Facebook to pay for news on their platforms. The governments of Europe and Australia are increasingly sympathetic to this view. The two tech companies are absorbing most of the US digital advertising dollars, which has hurt publishers, among other issues.
Facebook said on Tuesday it would lift a ban on news links in Australia after the government agreed to change proposed legislation to help publishers negotiate with Facebook և Google. Facebook has been criticized for temporarily suspending access to public epidemiological, health and emergency services on the social networking site.
Facebook announced on Tuesday that the changes allow it to choose which publishers it will support, and said it will now start doing business in Australia.
Google has already entered into content licensing deals with Australian media companies, says it has agreements with more than 50 publishers in the country and more than 500 publishers worldwide.
There may be more such settlements in other countries. Microsoft is working with European publishers to push for big technology platforms to pay for news. EU countries are working to adopt copyright protection rules that allow news companies and publishers to negotiate payments.