Meta no longer offers monetization, payments, or compensation for US publishers for their pieces, works, and uploads that make up its Facebook News tab on social media. Previously, Facebook offered to pay for the uploads made by publishers in the new experience it introduced three years ago, now ending the contracts.
Meta: Facebook News to No Longer Pay US Publishers for Uploads
(Photo : Unsplash/Austin Distel)
Facebook
Axios first reported the news regarding the significant changes to the Facebook News experience for US publishers, and it claims that there would be no more compensation for the uploads made on the dedicated tab.
The experiment for the Facebook News tab started three years ago, in 2019, and it gave the world another feature to access via the social media platform to help in their news consumption.
The report said that Meta spent a massive $105 million for the project and another $90 million for video uploads in the said tab.
It partnered with the likes of the New York Times to which it paid $20 million, the Wall Street Journal, which received $10 million, and CNN, which also received compensation amounting to $3 million.
That deal started three years ago and is under a contract that Meta made with the news companies.
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No More Compensation for News Uploads-New Focus?
However, it is no longer renewing its deals with these companies this year, after its contract ended the initial three-year deal with the news websites. According to The Verge, Wall Street Journal said that this experiment is something that "did not pay off" for Facebook and Meta. Hence it is stopping the payments it will make to its partner companies.
Meta's focus will be on other experiences on its platforms, including podcasts, Novi, and its "Hotline" initiative.
Meta's Monetization on Facebook, Instagram
Meta's social media platforms offer different experiences for all, and it is beneficial for both the audience and content creators that aim to make a living using their significance and reach online. Meta's latest announcement for all is pausing the monetization cuts that would reduce what influencers make on the platform until 2024.
There are many offers from Meta to focus on a content creator's experience and monetization online. One of them is the Instagram Creator Marketplace, which will expand more of the networks and connections. Additionally, it will help future collaborations with different creators, focusing on giving more to the audience and each other in the process.
Monetization and compensation for content creators and publishers are massive for the online world now, and it is something that has been a significant income stream for some. However, it may be changing for the Facebook News experience that would no longer observe this in its platform, despite its continued operations on the platform.
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Written by Isaiah Richard
