Business & Tech
Meta Will No Longer Pay News Organizations For Facebook Prominence
On Wednesday, Meta Platforms Inc. posted its first revenue decline in its history and forecast weak results for the current quarter as well.
July 29, 2022
Meta Platforms says it will no longer pay U.S. news organizations to have their material appear in Facebook's News Tab as it reallocates resources in the face of the economic downturn and changing user behavior.
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The company said Thursday that most people "do not come to Facebook for news, and as a business it doesn't make sense to over-invest in areas that don't align with user preferences."
Meta, then called Facebook, launched the partnerships in 2019. The "News Tab" section in the Facebook mobile app only displays headlines — and nothing else — from The Wall Street Journal, The Washington Post, BuzzFeed News, Business Insider, NBC, USA Today and the Los Angeles Times, among others. The company did not say how much it was paying the news organizations, but reports put it in the millions of dollars for large outlets such as The Wall Street Journal.
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