Meta Will No Longer Fund Its News Publishers in the US Report

META

Tech giant Meta has started notifying its news partners that the company will stop paying publishers for their content to run on Facebook’s News tab in the US.

According to Axios, as the company moves forward with sweeping changes to the Facebook experience, news has become less of a priority.

META’s VP of Media Partnerships, Campbell Brown, told employees that the company is shifting resources from its news products to support more creative initiatives, citing sources.

Facebook brokered three-year deals with publishers in 2019. At the time, the company was increasing its investment in news and hired journalists to help direct publisher traffic to their new tabs for news.

The Deals Were Worth About $105 Million in the US.

In addition to this, the company spent around $90 million on news videos for the company’s video tab ‘Watch’, the report said, citing sources.

A Facebook spokesperson was quoted as saying, “A lot has changed since the deals were signed three years ago to test bringing additional news links to Facebook News in the US.

Most people don’t turn to Facebook for news.” And as a business it doesn’t make sense to invest more in areas that don’t align with user preferences.”

The $105 Million Spent on Additional News Content For the News Tab Was For Incremental Links

News companies can still publish content on the Facebook platform as they wish.

Although hundreds of news publishers are still eligible for their content to be included in the News tab, approximately 50 publishers will not be renewed funding for their content.

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