The American company Meta* will abandon the News tab of the social network Facebook in the US and Australia after its elimination for users in European countries, according to the corporation.
The tab will disappear from the social network’s interface for American and Australian users in April of this year, the message says. The company will stop entering into new news content deals and will not offer new Facebook products specifically for news publishers in the future.
The News tab appeared on the social network in 2019, after which several editors closed million-dollar deals to publish news. According to The Verge, the deal cost The Wall Street Journal $10 million and the deal with The New York Times cost the same. The amount of the agreement with CNN was much smaller: $3 million.
In September of last year, the corporation announced the cessation of the tab in several European countries: Germany, France and Great Britain. Starting in early April, News on Facebook will no longer be available to users in the US and Australia.
In Australia, the rights to local press content cost the company $70 million a year. Meta* stopped entering into these types of agreements in 2022. According to the latest data, informative content does not even reach 3% of what users see on the social network in their feed.
Meta* thus aims to redirect investments, including in the development of the short video format on the platform.
*Meta and its Facebook and Instagram members are recognized as extremist organizations whose activities are prohibited in the Russian Federation.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
