Meta Gives Grants Worth Millions To 564 News Outlets

Meta is making headlines today after the company opted to award huge grants worth $29 million to nearly 565 news outlets.

This particular move appears to be in line with its Journalism Project initiative as mentioned recently.

Moreover, the direct funding came through nearly 17 different programs. The news came forward from the Columbia Journalism Review which mentioned today how the Tow Center has a complete tally of the initiatives.

As a whole, the total is equivalent to a range between $5000 to nearly six-figure amounts that were recently received by the Boston Globe and a few others. Furthermore, the report highlighted how the total equaled $25,000 but just 239 different outlets got an amount that was the equivalent of $5000.

A leading list comprising the biggest beneficiaries was also put forward including the highest amount going to The Boston Globe which was $390,000 and Newsday which was $375,000.

Meanwhile, The Seattle Times was $355,000, and the Chicago Tribune was $350,000. The list has a total of 13 leading names from the world of media and publishing.

The whole idea behind the move seems to be making all of the information centralized and publicly accessible. Moreover, one of the biggest global social media firms is giving oversight as they are following where the most money is, the Columbia Journalism Review went on to mention.

Meta continues to market its investments and is similarly tracing funding that it refers to as super difficult. Not only are there zero requirements for disclosure but the company isn’t keeping any public register for payments that would be scrutinized by journalists.

And in today’s day and age, it’s so important that platforms sign contracts and enter into discussions in terms of news content that’s available across various social media feeds.

One great example was provided in terms of both tech giants Google and Meta coming forward and highlighting how they were lobbying against a Canadian journal for content published on their feeds from the journal.

But with more bills in place, they would be forced to enter into an agreement with Canadian outlets about how content is distributed online through such social media feeds.

Meta did previously unveil how more and more people want to see local news across their newsfeeds so they’re well aware of what’s going on. At the same time, local media outlets are on the search for more help and support so it seems to be a win-win situation for the two of them.

H/T: Media Post

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