Ahead of the 2020 presidential election, Facebook is offering millions of dollars to mainstream media outlets to license their content.
The social media giant is developing a new “news tab” that will feature headlines and article previews and has approached the Washington Post, Bloomberg, ABC News and Wall Street Journal’s parent company, Dow Jones media to partner with Facebook to bolster their content.
Facebook will coordinate closely with the outlets to select how their content will appear on the site to ensure the establishment media outlets generate more revenue from its new feature, the WSJ reports.
“Facebook has proposed giving news outlets discretion over
how their content will appear in the news tab, according to people familiar
with the matter,” the publication wrote. “News outlets would be allowed to
choose between hosting their stories directly on Facebook or including
headlines and previews in the tab that would send readers to their own
websites, the people said—in which case the news tab would be a generator of
web traffic for news outlets in addition to a source of licensing revenue.
“A person close to Facebook said it plans to gather feedback
from news organizations to help improve the news tab.
Facebook will reportedly unveil its “news tab” in the fall and the new-licensing deal would run for three years.
Meanwhile, the monopolistic tech giant is using its algorithms to starve conservative websites.
Zuckerberg explained the algorithm would boost “trusted” news outlets and suppress other, ostensibly less trustworthy sources.
Conservative and right-wing publishers “were hit the
hardest” by the algorithm change, “while the engagement numbers of most
predominantly liberal publishers remained unaffected,” The Outline, a tech