Facebook: We’ll invest one billion dollars in news organizations

Facebook: We'll invest one billion dollars in news organizations

CEO Nick Clegg wrote that “allegations that Facebook is stealing original journalistic products for their own gain have always been untrue.” He points to the row with the Australian government, which recently prevented Australian news from being shared on the platform last week.

This weekend, after further negotiations, Facebook announced that it would allow the news to be returned to Australia.

The problems have arisen between Facebook and Australia due to an Australian bill requiring social media platforms to pay for posting content from news sites. The state hopes to protect the press in this way.

According to Clegg, the investments are an “alternative approach” to the same problem. They track the $ 600 million the company has invested in the news since 2018. Clegg mentions the deals Facebook made with The Guardian, the Financial Times, and several other news outlets.

“Journalism earns more for us”

Clegg’s words align with the line Facebook has been holding for some time. According to Facebook, news companies earn more from their platform than the other way around.

“There are legitimate concerns about the size and power of tech companies,” Clegg wrote. “But the Internet needs new rules that work for everyone, not just the big media companies.”

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