Facebook announced Monday that it will support the $ 100 million global hit by the coronavirus pandemic. This was reported by AFP.
Washington, March 30 (TASR) – Facebook announced Monday that it will support the $ 100 million global hit by the coronavirus pandemic. This was reported by AFP.
“Intelligence organizations are working under extraordinary conditions to inform people during the COVID-19 pandemic,” said Campbell Brown's Media Cooperation Director. She added that “At a time when journalism is needed more than ever, advertising revenue declines because of the impact of the virus on the economy.”
A total of $ 25 million will be provided by Facebook as an emergency grant to local US media and another $ 75 million will be invested in advertising with news organizations around the world.
Facebook said it will offer grants “Publishers who need it most in the most affected countries”. This step, according to AFP, comes at a time when concerns about the cuts and closures of news organizations that have been hit by constraints and a huge drop in advertising profits as a result of the crisis are growing.
In recent months, Facebook and Google have intensified efforts to help the media after criticizing that their dominant position in online advertising makes it difficult for the media to profit from digital operations.