Sources: Meta begins telling its 50 US news partners that it will no longer pay for content to run on Facebook's News Tab, ending a three-year deal from 2019
Meta on Tuesday began telling its news partners in the U.S. that the company no longer plans to pay publishers for their content … Tweets: @sarafischer , @sarafischer , @joshelman , @rj_writes , @mattbrownep , @amasna , @nickstatt , @mikeelgan , @sarafischer , @blackamazon , and @ivanthek See also Mediagazer Tweets: Sara Fischer / @sarafischer : 🚨SCOOP: @Meta officially cuts funding for news pubs — The deals for the News Tab were worth roughly $105 million in the U.S. — In addition to that, the company spent around $90 million on news videos for the company's video tab called “Watch.” https://www.axios.com/... Sara Fischer / @sarafischer : .@Facebook & news industry, a relationship timeline: —2018: Changes algo to favor friends over publishers —2019: MZ announces News Tab & funding alongside News Corp CEO on stage —2021: FB starts cutting politics in feed —2022: FB cuts funding for news pubs https://www.axios.com/... Josh Elman / @joshelman : This is an interesting timeline. But misses the launch of the Facebook Share feature in 2007, the work @AndreaBreannaNY and I did to bring Facebook Connect to Huffington Post in 2008-9, The like and comment widgets in 2010. Long journey, lots of iterations... more will come! https://twitter.com/... @rj_writes : Glad an entire industry didn't pivot its entire strategy to chasing the whims of a changeable algorithm! Wait ... https://twitter.com/... Matt Brown / @mattbrownep : wow who could have predicted that Facebook might not be a reliable business partner for publishers https://twitter.com/... @amasna : It was always coming https://twitter.com/... Nick Statt / @nickstatt : Super cool. I'll now eagerly wait the Pivot to Video 2.0 and whatever bait-and-switch tactics Facebook will use to lure more publishers onto the rug before they pull it out again. https://twitter.com/... Mike Elgan / @mikeelgan : Alt headline: “Facebook to publishers: Thanks for letting us take your audience. Now fuck off.” https://www.axios.com/... Sara Fischer / @sarafischer : While news publishers are still eligible to have their content included in the News Tab, the funding to roughly 50 publishers for their content will not be renewed. https://twitter.com/... @blackamazon : Citing News , cutting Twitch sponsorships, announcing they ain't gone be listening to objections .... But okay https://twitter.com/... @ivanthek : There it is. https://twitter.com/... See also Mediagazer