Facebook is investing in an innovation fund to finance journalism groups in Australia. In total, 170 newspapers will benefit from financial support under a licensing agreement. The move by the social network came after the approval of a lei in the country that forces big tech companies to pay for news published by local outlets.
The idea behind the deal was the National Press of Australia (CPA), a group that fights for the rights of small media groups in the country. One of the goals of this partnership is to create a bridge between Facebook's investment (as well as other tech companies) and small local media outlets, such as The Bunyip, which has a circulation of 8750 copies, and The Gympie Today, which has even smaller numbers.
Terms of the agreement, such as the amount Facebook will invest, how the money will be divided among participating news organizations and the duration, were not disclosed by the CPA. Its president, Andrew Manuel, told Reuters that “the fund will help sustain original journalism that is accessed by regional communities.”
The law behind it
The law that motivated Facebook to create this journalism investment fund was passed in February of this year. It is a way for the Australian government to protect its media from the profits that technology companies obtain from using this type of content. However, this law did not please Google very much, which ended up causing some disagreements with the country.
At first, the Alphabet company refused to pay for news and even demonstrated its power by boycotting research by Australian news sites. After criticism for its abusive act, Google backtracked, but commented that it could leave Australia if the law were to be passed. However, the intrigue seems to have come to an end, as Google has signed a million dollar contract with local journalism groups.
Through which channels you reach those people, classic and out of the box. Reuters
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