Facebook has announced that it will be investing $300 million in news programs, partnerships, and content, over the next three years.
As part of its continuing effort to bring more local news to users and support local newsrooms, Facebook has announced further and expanded efforts around local news for the next few years. As per Facebook’s recent announcement, efforts will concentrate on two key areas:
“supporting local journalists and newsrooms with their newsgathering needs in the immediate future” and “helping local news organizations build sustainable business models, through both our product and partnership work.”
According to the announcement, over the next three years, Facebook will invest $300 million in news programs, partnerships and content that will include:
- A $5 million “endowment gift” to the Pulitzer Center to launch “Bringing Stories Home,” providing local newsrooms with reporting grants to foster coverage on topics that affect local communities. The gift will unlock an additional $5 million matching gift from Emily Rauh Pulitzer, chair of the Pulitzer Center.
- A $2 million investment in the Report for America initiative, which will help place 1,000 journalists in local newsrooms across America over the next five years.
- A $1 million investment in the Knight-Lenfest Local News Transformation Fund which will be dedicated to a “news innovation and technology hub” that is being created to help evaluate and improve how technology is used in newsrooms across the U.S.
- A $1 million investment across the Local Media Association (LMA) & Local Media Consortium (LMC), to help more than 2,000 local member newsrooms better understand, develop and implement revenue streams through branded content both on and off Facebook.
- A $1 million commitment to the American Journalism Project to grow and sustain local civic news organizations through venture philanthropy.
- The $6 million Community News Project that will partner with some of the biggest regional publishers in the United Kingdom – Reach, Newsquest, JPI, Archant, Midland News Association and the National Council for the Training of Journalists (NCTJ). The project will recruit trainee ‘community journalists’ and place them in local newsrooms over a two-year period.
In addition to the above, Facebook will also be expanding its Accelerator pilot, that helps local newsrooms with subscription and membership models. The company will be committing over $20 million to continue the local Accelerator in the U.S., but also to expand it globally.
Finally, Facebook will be holding a two-day “Accelerate: Local News” event which will be devoted to local news, in partnership with Knight Foundation and the Online News Association.
All these investments and actions are part of Facebook’s continued support of local news and its fight against fake news, misinformation, and low-quality news on its platform.
You might also like
More from Facebook
Instagram is bringing Reels Ads placements to its Marketing API, available on all current Marketing API versions - without an …
Ahead of the holiday shopping season, Facebook has announced daily Live Shopping experiences and the return of #BuyBlack Friday.
Facebook has announced the date for its 2021 Communities Summit to bring together community builders, announce new features, and more.
Facebook is launching new initiatives for Horizon creators, including a new $10M Creator Fund to support the creator and developer …
Facebook is testing a new option allowing users to share a post with multiple groups at once, contradicting to past …
Facebook Messenger partnered with Dr. Papadopoulos to help users maintain emotional well-being through Messenger’s privacy features.
Facebook’s Transparency Center has detailed a list of 28 types of offensive posts that see their reach reduced in News …
Facebook is welcoming two new additions to the Portal family and launching Portal for Business with new Work Accounts.