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Facebook has announced a gradual rollout of Facebook News to a small group of Australian users and a $ 15 million (US $ 11.1 million) news fund.
Facebook News provides users with personalized news content in a separate tab of the app.
It’s australia Media negotiation code, Facebook strongly opposed. In February, the social media giant banned all Australian news content on the platform in retaliation for the law.
After a fierce backlash, Facebook eventually overturned the decision. Especially because we shut down important emergency news services from government agencies.
Since then, the platform has agreed to negotiate with all major Australian publishers to close deals and pay millions of dollars for news content.
These contracts have News Corporation March, Seven West Media In May, and Nine When Parents In June. There were also agreements with several small publishers.
“Facebook will continue to support the news industry through products and programs that promote premium journalism and promote publisher referral traffic and revenue,” said Facebook Australia’s Head of News Partnership. Andrew hunter said At the announcement. “We plan to extend Facebook news to more Australians in the coming months.”
The media negotiation code means that platforms such as Google and Facebook need to negotiate with the media and reach an agreement in order to publish the content.
Treasury Josh Frydenberg said the goal was to ensure that the content produced by news media companies was “fairly rewarded” and to provide a framework for honest negotiations.
“”[The code] Address the bargaining imbalance between the news media business and digital platforms. ” He said During February.
The Australian Competition & Consumer Commission (ACCC) said a deal between an Australian news company and Facebook could not have been achieved without a media negotiation code.
“There is no discussion about it,” said ACCC President. Rod Sims said Australian Financial Review. “We are in a great place. It is better to trade in a place with an equivalent bargaining framework than an arbitrator would have to do.”
The social media platform has also created two news funds worth $ 15 million to invest in public interest journalism over the next three years.
The Newsroom Sustainability Fund allocates $ 2.5 million annually to innovation and revenue-generating projects, as well as the development of subscription paywalls and membership programs.
The Public Interest Journalism Fund allocates the same amount to small, regional, and independent publishers and journalists to create public interest projects.
“We are particularly focused on how this fund can support poorly serviced communities such as Aboriginal Australians, LGBTQI + communities, youth and women issues, local issues and local citizen journalism. “I will,” said Hunter.
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