Facebook, following in Google’s footsteps, says it plans to invest $ 1 billion to “support the news industry” over the next three years.
The social networking giant, which is disputing with Australia over a law that would make social platforms pay news organizations, said it has invested $ 600 million since 2018 in news.
Google said in October that it would pay publishers $ 1 billion over the next three years.
News companies want Google and Facebook to pay for the news that appears on their platforms. The governments of Europe and Australia are increasingly sympathetic to this point of view. The two technology companies absorb most of the US dollars in digital advertising, which – among other problems – has hurt publishers.
Facebook said on Tuesday that it would lift the ban on news links in Australia after the government agreed to adjust the proposed legislation that would help publishers negotiate payments with Facebook and Google. Facebook was criticized for its ban, which also temporarily cut access to the government’s pandemic, public health and emergency services on the social networking site.
Facebook said on Tuesday that the changes allow it to choose which publishers to support and indicated that it will now start closing deals in Australia.
Google has already signed content licensing agreements with Australian media companies and claims to have agreements with more than 50 publishers in the country and more than 500 worldwide.
There may be more regulation of this type in other countries. Microsoft is working with European publishers to push big technology platforms to pay for news. European Union countries are working to adopt copyright rules that allow news companies and publishers to negotiate payments.