Meta will stop paying US publishers like the WSJ and NYT for News tab content

According to the report, Meta spent about $105 million in three-year content deals for news (plus another $90 million for news videos), including $10 million for the Wall Street Journal, $20 million for the New York Times, and $3 million for CNN in arrangements that sometimes included unlocked access to paywalled content. The Wall Street

According to the report, Meta spent about $105 million in three-year content deals for news (plus another $90 million for news videos), including $10 million for the Wall Street Journal, $20 million for the New York Times, and $3 million for CNN in arrangements that sometimes included unlocked access to paywalled content. The Wall Street Journal previously reported that the rise of regulation forcing Facebook and other internet giants to pay for news caused the company’s waning enthusiasm and cited a source today saying the paid news push was an “experiment that ultimately didn’t pay off.”

“Most people do not come to Facebook for news”

A statement from an unspecified Facebook spokesperson given to Axios said, “a lot has changed since we signed deals three years ago to test bringing additional news links to Facebook News in the U.S. 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 preference.”

When Facebook introduced the News tab in 2019, it talked up the potential of a section with daily top stories “chosen by a team of journalists” that could avoid the pitfalls of other News Feed adventures that sometimes boosted fake news, the Instant Articles that publishers didn’t appreciate, or its infamous “pivot to video.” For me, it was just another section of Facebook that I visited once and never went back to.

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