Slashdot: Meta Cuts Funding for US News Publishers

Slashdot
News for nerds, stuff that matters 
Meta Cuts Funding for US News Publishers
Aug 1st 2022, 02:44, by EditorDavid

Engadget writes that "After Meta's revenue shrank for the first time in its history, the company has reportedly told publishers it will no longer pay for content to run in Facebook's News Tab, according to Axios." Axios notes it's the end of three-year deals Facebook brokers in 2019 with news publishers. At the time, the company was ramping up its investment in news and hired journalists to help direct publisher traffic to its new tab for news. The deals were worth roughly $105 million in the U.S., sources told Axios. In addition to that, the company spent around $90 million on news videos for the company's video tab called "Watch." "A lot has changed since we signed deals three years ago to test bringing additional news links to Facebook News in the U.S. Most people do not come to Facebook for news, and as a business it doesn't make sense to over-invest in areas that don't align with user preferences," a Facebook spokesperson told Axios.

Read more of this story at Slashdot.

You are receiving this email because you subscribed to this feed at blogtrottr.com. By using Blogtrottr, you agree to our policies, terms and conditions.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions.

Comments

Popular posts from this blog

Gizmodo

Gizmodo