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Facebook to Support News Media With $100 Million

Facebook to Support News Media With $100 Million

Enterprise & IT Mar 30,2020 0

Facebook on Monday announced an additional $100-million investment to support journalists — including $25 million in emergency grant funding for local news through the Facebook Journalism Project, and an extra $75 million in marketing to get money to publishers around the world at a time when their advertising revenue is declining.

The social network said the first round of its grants went to 50 local newsrooms in the United States and Canada.

This investment is in addition to the support Facebook has already pledged to the news industry in response to COVID-19: $1 million in grants for local news, $1 million in grants for fact-checking organizations, and a $1-million donation to the International Fact-Checking Network.

On Friday, Google-parent Alphabet said it would donate more than $800 million in funds and ad credits to businesses, government and health organizations.

Tags: facebook
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