Meta will no longer pay US publishers for news content

After Meta .’s sales shrink For the first time in its history, the company has told publishers it will no longer pay for content to run in Facebook’s News Tab, according to Axios. “Most people don’t come to Facebook for news, and as a business, it’s not reasonable to overinvest in areas that don’t align with user interests,” a spokesperson said. said in a statement.

Facebook spent about $105 million on such transactions, paying $20 million for New York Times10 million dollars to The Wall Street Journal and 3 million dollars to CNNbased on Axios. Facebook made deals back in 2019 when it increased its investment in news and even hired journalists to drive traffic to the news tab.

Facebook too promise to pay Partner sites include Guardians and The Economist for news in the UK when it launched the News Tab there in late 2020. Soon after, it signed an agreement with Rupert Murdoch’s News Corp to pay for content in Australia, following the Australian Parliament. passed a law ask Facebook and Google to do the same.

Along with Google, Facebook has also been criticized for withdrawing advertising money from dedicated news sites. That has contributed to the failure of a quarter of US news sites over the past 15 years, Poynterwith professional journalism gaps often filled by false or misleading news On Facebook.

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