Facebook will invest $ 300 million in support of local journalism organizations. This writes Reuters.
The company has invested in the media before, but then these funds were used to ensure that publishers use Facebook products. Now Facebook will support local American organizations of journalists: it will help them to create new types of content, hire employees and develop business models.
Funds from the company will be received by Pulitzer center, organizations to support local journalism, Local Media Association and Local Media Consortium, and others.
According to Campbell brown, Vice President of Facebook’s Global News Partnerships division, the company spoke with industry representatives and learned the opinion of users: they would all like to see more local news on Facebook, and local publications need support.
Such an initiative, according to TechCrunch, may be an attempt by Facebook to mitigate the damage that the social network has caused to traditional publishers. Perhaps Facebook is thus trying to protect the sources of content for the social network, the newspaper writes.
In March 2018, Google announced plans to invest $300 million in the program to support journalism. The purpose of Google News Initiative will be to support quality journalism, the development of business models of the media and the fight against fake news.