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Facebook says it will pay $1bn over 3 years to news industry

Feb 25, 2021 08:56 IST

Following in Google's footsteps, Facebook has said that it plans to invest $1 billion to "support the news industry” over the next three years. The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organisations, said it has invested $600 million since 2018 in news. Google said in October last year that it would pay publishers $1 billion over the next three years. News companies want Google and Facebook to pay for the news that appears on their platforms.

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