Facebook commits $100 million to journalism amid the coronavirus outbreak

Facebook has pledged $100 million to support the news industry during the coronavirus crisis, the company announced Monday. 

The company will grant $25 million to local news funding through its Facebook Journalism Project, as well as $75 million in additional marketing spending, with the goal "to move money over to news organizations around the world." Of course, Facebook and Google’s dominance of the internet ad market is a major factor in why it's so difficult for local newspapers to survive in the first place. 

"At a time when journalism is needed more than ever, ad revenues are declining due to the economic impact of the virus. Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe," the company said in a blog post.  Read more...

More about Facebook, Tech, Media Industry, and Social Media Companies

https://ift.tt/3dFD2Jx from Tech https://ift.tt/2UL9mSJ
via IFTTT