Facebook establishes New Zealand fund to support local publishers

Taken on November 2, 2021, this figure shows the new 3D-printed Facebook rebranding logo Meta and Facebook logo placed on a laptop keyboard. (DadoRuvic / Reuters)

Facebook’s parent company, Meta Platforms Inc., announced Thursday that it will invest in New Zealand to promote up-and-coming news publishers and enhance their digital capabilities.

The company, which did not disclose its investment, said the program would include training local publishers of diverse backgrounds to drive digital audience and revenue growth both inside and outside Facebook. rice field.

Meta also said it would partner with the International Center for Journalists to establish an advisory board consisting of five Kiwi media personnel to help develop the talents selected under the program.

The move came a few days after an Australian scholarly publisher, like other major media companies such as NewsCorp and Australian Broadcasting Corp, asked the government to enforce a new law that would force Facebook to negotiate content transactions. increase.

Last week, Facebook changed the name of its holding company to Meta, when legislators and regulators criticized market power, algorithm decisions, and crackdowns on service abuse.