January 15, 2019

HMM: Facebook is committing hundreds of millions to local news.

Facebook says the project is meant to support local journalists and newsrooms with their news-gathering needs in the immediate future and help them build sustainable long-term business models, on and off its platform.

Roughly one-third of the money from the effort has already been allocated to local news non-profits and programs, as well as Facebook’s own local news initiatives.
Facebook says it’s investing heavily in local news, in particular, because having spent more time with local news publishers via its accelerator programs over the past year, the company believes it will have the biggest impact in those areas.
“I strongly believe that because smaller publishers don’t have the same resources as larger ones, this is really where we can have the most impact.”

Local news organizations ought to bear in mind that in the modern economy, once you take the Danegeld, you’ll never be rid of the Danes.

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