Facebook Will Invest A Billion Dollars in News in the Next Three Years
Facebook will invest a billion dollars (approximately 820,000 million euros) in the news over the next three years.
This is reported by Vice President Global Affairs of the social network, Nick Clegg, verbatim in a blog post.
“Facebook is more than willing to partner with news publishers,” said Clegg. “We absolutely recognize that quality journalism is central to how open societies work by informing and empowering citizens and making powerful accountable.”
The investment is in addition to the 600 million dollars that the company has invested in the media since 2018.
The new cash injection was announced the day after lifting the news blockade by Facebook in Australia. The company and the government agreed on a law that makes technology giants pay for content sharing.