Facebook will no longer pay publishers to host their content on the platform’s “News Tab.”
The Wall Street Journal reported last week that the deal that originally began in 2019 is coming to an 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.
Three years ago, we made deals to bring additional news links to Facebook News. 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.
While some news publications will still receive payment from Facebook, it seems that the main media is being cut.
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