Facebook will no longer pay publishers to host their content on the platform’s “News Tab.”
It Wall Street JournalIt was reported that the original deal which began in 2019 will end. Senior executive Campbell Brown thanked staffers for “the incredible, impactful and challenging work this Partnerships team has done to build out these experiences over the last several years.”
“For a lot of us—this was a labor of love and I know it’s hard to see these products put on the backburner,” she added. “These are products that have delivered tremendous value for our partners and our users.”
The platform plans to focus more on “creative” efforts instead of the news.
Since we first signed agreements three years back to try out adding news links in Facebook News, the U.S. has seen a lot of change. A Facebook spokesperson explained to Axios, “Most people don’t come to Facebook looking for news. As a business, it makes no sense to overinvest in areas which aren’t consistent with their preferences.”
According to Axios, Facebook paid news companies $105 million for the ability to post their articles on the platform and paid $90 million for news segments posted in the “Watch” tab of Facebook.
“Meta spent more than $10 million on its news partnership with the Wall Street Journal, more than $3 million on its deal with CNN, and more than $20 million on its partnership with the New York Times,” Axios reported.
Although some news journalists will be paid by Facebook to continue using the service, the majority of mainstream media outlets have been shut down.
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