Facebook invests further $100m to support US news industry
"Direct funding is helping journalists cover important stories when we all need them most."
Facebook announced yesterday it would invest US$100m to support the news industry – $25 million in emergency grant funding for local news through the Facebook Journalism Project, and $75 million in additional marketing spend to move money over to news organisations around the world.
Facebook VP of global news partnerships Campbell Brown said:
“Through the COVID-19 Community Network grant program, direct funding is helping journalists cover important stories when we all need them most. We're building on this work and will direct a portion of these funds to publishers most in need in the hardest hit countries. The first round of these grants went to 50 local newsrooms in the US and Canada.”
"Local news organizations, especially hyper-local news organizations including those serving black and other underserved communities, have experienced challenges with the sustainability and distribution of news and information in the current media environment. COVID-19 has exacerbated an already existing crisis and our jobs have just gotten tougher. With such a sizable infusion from Facebook, local news organizations across the country will benefit as will our readers, our viewers and our listeners," said Janis Ware, publisher of The Atlanta Voice.
Brown added: “This commitment builds upon $300 million Facebook committed already to serving journalists around the world through diverse and inclusive news programs and partnerships, including Report for America, the Pulitzer Center, the Community News Project and the Facebook Journalism Project’s Local News Accelerator training program.”
