Facebook will spend $ 5 million on journalists to develop its publishing platform

Facebook has announced its intention to allocate $ 5 million for journalists to develop its own publishing platform. Writes about it Reuters. The funds will be spent on paying for journalists who will start publishing materials in the company’s service.

The platform assumes that journalists will be able to independently publish materials and create websites using the company’s tools. This will all be linked to the author’s Facebook page. Any journalist from the United States can apply to participate in the program. Preference will be given to those covering blacks, Asians, Hispanics, and other peoples in places where news services are not available. The amount of payment for the materials has not yet been announced.

“The move will be one of Facebook’s responses to the email newsletter trend, led by platforms such as Substack. They target reporters, who are often the only voice in the community, ”the company said.

The company’s initiative took place against the background of the transfer of journalists from major media outlets to various platforms. Several contributors from the New York Times and Vox Media have switched to Patreon and Substack for more earnings that have virtually no limits thanks to subscriptions.