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| Facebook pays 1 billion dollars for the news industry |
Facebook has made it clear that it plans to invest an additional $ 1 billion in the news industry over the next three years to demonstrate its commitment to journalism.
Previously, the company faced an unprecedented confrontation with the Australian government that included a short gap in the ability to read and share information from Australian Facebook users and editors.
"Facebook hopes to partner with news publishers," the company said. We understand that information quality is at the core of the company's overall operations. That's why we've invested $ 600 million since 2018 to support the information industry. An increase of at least $ 1 billion over the course of the year.
That promise is in line with one that Google made last October when the search giant announced that it would start paying publishers to create professional versions of stories and other forms of content. News for Google News Display.
However, in this case, it is worth noting that the way Google and Facebook interacted with Australian trade laws had a profound effect.
The law requires the two companies to sit at the negotiating table with news outlets to sign a contract to pay for shared news content via Facebook and Google.
The company believes that the trade law passed before the latest settlement is unfair, as it gave the media group more leverage to raise wages through mandatory business practices.
"From our point of view, Hana is a fundamental misunderstanding of the relationship between Facebook and news publishers," the company said. In arbitration, we deliberately provided unlimited potential funds to multinational media groups who intentionally misrepresented the relationship between a news publisher and a news publisher. Without a guarantee that Facebook will be used to pay for the news, let alone support young publishers.
Facebook is now free to negotiate deals with its Facebook messaging platform and news publishers without worrying about having to arbitrate.
The company plans to do this in Australia, as it is currently doing in the UK, US and other markets.
As last week, Facebook also reserves the right to limit news content to Australian publishers and users. However, the company has announced that it will not do so if future negotiations remain real.