Facebook commits $100 million to struggling news outlets during coronavirus
Facebook today announced plans to invest $100 million to boost local news media outlets whose advertising revenues have been gutted by the coronavirus crisis.
In a blog post, Facebook’s vice president of global news partnerships Campbell Brown said local journalists are playing a vital role in providing information about COVID-19. But the ad-driven business models of their newsrooms are threatened by the economic fallout from the quarantines being imposed to stop the spread.
“If people needed more proof that local journalism is a vital public service, they’re getting it now,” she wrote. “And while almost all businesses are facing adverse financial effects from this crisis, we recognize we’re in a more privileged position than most, and we want to help.”
Facebook will donate $25 in direct grants, and will also spend $75 million on marketing on local news sites to make up some of their revenue shortfall. The company announced it had already made grants to 50 newsrooms, including The Post and Courier of South Carolina, the Southeast Missourian, and El Paso Matters in Texas.
The company has made various efforts in recent years to form new partnerships that would help news organizations in decline. That includes a $300 million journalism grant program.
Like many large tech companies, Facebook has been under pressure to find ways to uses its vast profits and platform to help during the pandemic. Facebook had separately created a $100 million coronavirus program to help small and medium businesses.
The company had previously said it would help international health agencies leverage its Messenger service to distribute information. It also created a Messenger Coronavirus Community Hub to centralize information for users.