Facebook will pay US and UK media $ 1 billion for their content – Corriere.it

The tech giant Facebook, owner of the social network of the same name, has pledged to pay the world’s media $ 1 billion (€ 822 million) within three years for the use of its news content. Facebook vice president of global affairs Nick Clegg reported that the social network is ready to partner with media publishers. We fully recognize that quality journalism works with an open heart: informing and empowering citizens and controlling the powerful. In this sense, Clegg said that Facebook had already contributed $ 600 million (€ 494.5 million) between 2018 and 2020 to support journalism, while the next three years of planning, between 2021 and 2023, were Has increased to $ 1,000 million.

Facebook said it had struck deals with major media publishers in the UK and the US for its presence in the new news board, with the company operating in select markets. Clegg assured that the company in talks with publishers in Germany and France. The vice president of the technology company welcomed the amendments the Australian government intends to incorporate into recently passed legislation on the use of news media by search engines and social networks. Faced with the approval of this regulation, which would have forced Facebook to pay all media for the presence of its links on the social network, the company has decided to limit the publication of the news altogether. As a result of this measure, Facebook admitted that it had improperly blocked a lot of content, although it stated that many of these errors had already been corrected.

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According to Clegg, Facebook should not pay for news. As an argument he pointed out that less than 5% of the content users see on social networks is news and that during 2020, Facebook attracted 5.1 billion visits to the Australian media. According to their calculations, this volume of visits is equivalent to income of AU $ 407 million (€ 265.4 million). With this new pledge, Facebook matches Google’s estimate, which last year pledged to pay the media $ 1 billion for the use of its news content in a new product called the Google News Showcase.

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About the Author: Forrest Morton

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