Money: Facebook confirms 'news tab' being launched in US - PressFrom - Australia
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MoneyFacebook confirms 'news tab' being launched in US

06:42  10 august  2019
06:42  10 august  2019 Source:   news.sky.com

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Facebook has confirmed it will be launching a " news tab " in the US following reports it has begun to contact media companies to license their stories, but the company The confirmation follows a report in The Wall Street Journal that Facebook was offering news executives up to m (£2.48m) a year to

Facebook on Thursday confirmed it is working on a news tab to deliver "trustworthy news " to the social network's users that will launch this fall. "No details to share on the WSJ report, but I can confirm we 're working on a news tab to launch this fall," a Facebook spokeswoman told CNBC.

Facebook confirms 'news tab' being launched in US© Getty Facebook has been criticised for capturing advertising revenue

Facebook has confirmed it will be launching a "news tab" in the US following reports it has begun to contact media companies to license their stories, but the company remains a competitor to most of them.

The confirmation follows a report in The Wall Street Journal that Facebook was offering news executives up to $3m (£2.48m) a year to license their publications' headlines and previews of their articles in a new tab for its users.

Such licenses stand in stark contrast to the headlines and article previews visible on Google Search's news tab, which has been criticised for replicating news publications work without repaying them - to the point of being banned in Spain.

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“The Facebook News tab will reportedly include article previews and headlines from publishers such The report states that Facebook will launch this section by the end of this year. Users will be able to He stated , “It’s important to me that we help people get trustworthy news and find solutions that

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Facebook confirms 'news tab' being launched in US© Getty Google News has been criticised for reproducing news media content

According to the Journal, publishers including itself, ABC News, The Washington Post and Bloomberg have been contacted as part of the project.

The social media giant declined to tell Sky News which publications it was discussing licenses with or whether the news tab would be launched in the UK, but confirmed that the tab was to be launched in the US by the end of the year.

Facebook confirms 'news tab' being launched in US© Sky News Screen Grab Advertising revenue is flooding to Facebook and Google

But the move will be viewed sceptically by many in the news industry, which has seen vast amounts of the advertising revenue which funds it flood to Facebook and Google over the past decade.

A review commissioned by the government and published in February found that Facebook and Google had a detrimental impact on British news media because they captured so much of the share of online advertising revenue.

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Facebook 's News tab has been confirmed : it plans to launch the news tab this fall, focusing on trustworthy news from prominent publishers. According to the report, the licensing deals would run for three years and would give significant freedom to the news outlets, who could choose how their

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Earlier this year, Sky News technology correspondent Rowland Manthorpe reported on how news media organisations were being put out of business by Facebook and Google.

Figures produced for Sky News research firm eMarketer revealed 61% of UK media advertising was going to either Facebook or Google.

Then European competition commissioner Margrethe Vestager described the pair as "a de facto duopoly" but fell short of promising regulatory action, merely saying it was something her office was following.

Ms Vestager said the dwindling number of funded journalistic organisations was concerning: "It concerns me, because we will have no free journalism, no free press, no criticism of those in power, if we don't have media that is well funded, that can employ qualified journalists.

"With fake news, the role is getting bigger, but the risk is there are fewer people to do it," Ms Vestager added.

"From a European perspective, the fact that we have a number of different national markets complicates matters, because then you have strong players in the national markets, it's not Google and Facebook.

"But the pattern, the general pattern is a clear trend towards Google and Facebook taking all the advertising revenue."

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