Meta Platforms says it will no longer pay US news organizations to have their material appear in Facebook’s News Tab as it reallocates resources in the face of economic downturn and change. user behavior.
The company said on Thursday that most people “didn’t come” Facebook For news and as a business, it doesn’t make sense to invest too much in areas that don’t align with user preferences. “
Metathen known as Facebook, launched the partnership in 2019. The “News Tab” section in the Facebook mobile app only shows headlines – and nothing else – from The Wall Street Journal, The Washington Post, BuzzFeed News, Business Insider, NBC, USA Today and the Los Angeles Times, among others.
The Associated Press did not participate in the initiative.
At the time of the program’s launch, CEO Mark Zuckerberg told the AP that he sees “an opportunity to establish new, stable, long-term financial relationships with publishers.”
But Meta, based in Menlo Park, California, said in a statement Thursday that “a lot has changed since we signed a contract three years ago to test the inclusion of news links.” addition to Facebook News in the US”.
On Wednesday, Meta Platforms announced its first revenue decline in its history and forecast poor results for the current quarter.
Meta does not pay for the news content that outlets post on its platform. The company said Thursday deals on the News Tab are for “additional content, e.g. making sure we have access to more of their article links, and we’ve included a wide range of subject areas at launch”.
The company says Facebook News will continue in the other countries it’s currently in, and the change in the US won’t change deals in those places – the UK, France, Germany and Australia.