Facebook Gearing Up To Launch Dedicated News Section

Posted: Aug 9 2019, 9:20am CDT | by , in Technology News

 

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Facebook gearing up to launch dedicated news section
Photo by Facebook

Facebook is offering as much as $3 million a year to publishers to license their news stories, headlines and article previews.

Facebook is offering news outlets millions of dollars to use their content in a news section that the social media giant hopes to launch this year, according to The Wall Street Journal.

People familiar with the matter told the publication that Facebook is offering as much as $3 million a year to publishers to license their news stories, headlines and article previews. The licensing deals between Facebook and news outlets would run for three years, the people said.

Facebook has reportedly approached Walt Disney’s ABC News, Wall Street Journal parent company Dow Jones, The Washington Post, and Bloomberg. It is unclear whether Facebook has reached an agreement with any of the publishers.

A Facebook spokesperson declined to comment on the Journal report but confirmed to CNN Business that the company plans to launch a separate news tab this fall.

The move could help publishers get back some of the revenue they have lost to Facebook and Google, which have been criticized for their impact on the news industry’s struggles. Facebook and Google together earned 60% of all digital advertising revenue in the U.S. last year, according to eMarketer.

Such a move could also help Facebook address its fake news problem, which it has struggled to crack down on and for which it has been repeatedly criticized.

In April, Facebook CEO Mark Zuckerberg announced plans for a dedicated news tab in partnership with high-quality publishers.

“We want this to surface high-quality and trustworthy information,” Zuckerberg said in an interview with Axel Springer CEO Mathias Döpfner. “I think there’s real opportunity within a separate news surface to have better monetization for publishers than we have today in News Feed,” he added.

The new tab would be a free service for users, Zuckerberg said.

This story may contain affiliate links.

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<a href="/latest_stories/all/all/81" rel="author">Mandy Jean</a>
Mandy covers the latest news in Tech and Business.

 

 

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