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Facebook says it will pay $1B over 3 years to news industry

Facebook, following in Google’s footsteps, says it plans to invest $1 billion to support the news industry over the next three years

Facebook, following in Google’s footsteps, says it plans to invest $1 billion to “support the news industry” over the next three years.

Google said in October that it would pay publishers $1 billion over the next three years.

Facebook said Tuesday that the changes allow it to choose which publishers it will support and indicated that it will now start striking such deals in Australia.

Google had already been signing content licensing deals with Australian media companies, and says that it has arrangements with more than 50 publishers in the country and more than 500 globally.

There may be more such regulation in other countries. Microsoft is working with European publishers to push big tech platforms to pay for news. European Union countries are working on adopting copyright rules that allow news companies and publishers to negotiate payments.

File source

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