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| Facebook wants to encourage journalists to join its news platform |
Facebook said Facebook has pledged $ 5 million to local journalists under a multi-year contract as part of its new news platform to help freelance writers attract audiences and make money through social networks.
The company said the move was part of Facebook's response to trends in email newsletters run by platforms like Substack, as it focuses on journalists, who are usually the only voice covering a particular community.
The company prioritizes stories for black, indigenous, Spanish, Asian or other audiences of color in regions with no news sources.
With subscription, the company added, journalists can make money from their tools by publishing information and each author can set their own price.
The company announced its news platform last month, which includes a free self-publishing tool that allows journalists to send newsletters and paid subscriptions, and integrates with existing features such as Pages and Facebook groups.
Facebook describes local news as part of a broader self-publishing strategy, and a company spokesperson said: We are launching a platform to give freelance writers, experts, journalists and voices the confidence to target new audiences through Facebook.
He added, as part of our commitment to attract local writers to the press conference, we are opening the door to non-profit journalists who want access to this new platform and the independent business building services that we provide.
Facebook said it is working with the International Center for Journalists and the National Association of Hispanic Journalists to assess the nominations and provide some journalists with experts and services to help them grow their journalistic business.
The growth in paid newsletters shook the world of news media. Famous journalists have quit their jobs to work freelance on various platforms after being lured by money and the possibility to earn unlimited subscriptions.
Facebook competes with other self-publishing platforms, especially the newsletter provider Substack. The company launched a million-dollar plan called Substack Local in mid-April and announced that it would select 30 local journalists to receive a year in advance. 100,000.
The social media giant announced an investment of $ 5 million in local news last year and has also pushed national news outlets to post content on its social networks.