Facebook invests a billion dollars in news

Facebook invests a billion dollars in news

The Australian government has approved the new law that provides for mandatory bargaining between publishers and digital platforms. The final text of the News Media Bargaining Code contains the changes suggested by Facebook. The Menlo Park company has announced that it will invest at least one billion dollars in the sector over the next three years.

Facebook invests one billion dollars

Australian law provides for the payment of a fair compensation to publishers for every news published online by Google, Facebook and other tech companies. In the previous wording, this sum was established through arbitration. Facebook has suggested some changes and there is now a mediation of up to 90 days, during which publishers and digital platforms must come to an agreement.

Law enforcement can be avoided if Facebook finds an agreement economic directly with publishers (the same goes for Google). That's why the Menlo Park firm has decided to invest at least $ 1 billion over the next three years to support the traditional media industry. This will be done through the Facebook News service, already active in the UK and the USA (in the future also in Germany and France). This is basically the equivalent of Google News Showcase.

The Menlo Park company wanted to emphasize once again the main difference compared to Google. A search engine displays links to news without the consent of the publishers. Instead, the latter decide whether to publish the news on the social network and allow it to be shared.

A law similar to the Australian one could also be adopted in Europe with the support of Microsoft.

Source: Facebook

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