As a result of the economic downturn and changing user behavior, Meta Platforms has announced that it will no longer pay news organizations in the US to display their content in the Facebook News Feed.
According to the corporation, most users “do not come to Facebook looking for news” and “it does not make sense as a business to invest too much in areas that do not align with user preferences.”
The collaborations were launched in 2019 by Meta, which was then known as Facebook. The “News” Portion The Wall Street Journal, The Washington Post, BuzzFeed News, Business Insider, NBC, USA Today, and the Los Angeles Times, among others, all have sections on the Facebook mobile app that only display headlines.
The corporation did not specify how much it paid to news organizations, but reports indicate it was in the millions of dollars for major publications like The Wall Street Journal.
The Associated Press was not involved in the campaign.
At the time of the show’s inception, CEO Mark Zuckerberg told the Associated Press that he saw “an opportunity to establish new long-term, secure revenue relationships with publishers.”
However, Menlo Park, California-based Meta stated in a statement Thursday that “a lot has changed since we signed agreements three years ago to explore adding additional news links to Facebook News in the US.”
Meta Platforms reported its first revenue decline in its history on Wednesday and also forecast negative results for the current quarter.
Meta does not pay for news articles published by publications on its platform. According to the firm, News Tab’s partnerships were for “incremental content, such as ensuring we had access to more links to their articles and that we were including a variety of subject areas at launch.”
The firm said that Facebook News will continue in the other countries where it is now available and that the change in the US will not affect deals in other countries: the UK, France, Germany and Australia.
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