Facebook to help news publishers with investment of USD 4.5 million

Published on: Aug 3, 2018 17:18 IST
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Social media giant Facebook is planning to invest an additional USD 4.5 million towards helping the news publisher around the globe. Out of USD 5 billion profit in the second quarter this year, Facebook has announced that it will give USD 3.5 million towards 'Facebook Membership Accelerator'. The three-month pilot programme has been designed to help news organisations that rely on membership models. The programme helps non-profit news organisations build sustainable businesses by providing supporters access to exclusive content and experiences through memberships.

"We are going to continue to coach the group of metro news publishers from the pilot programme through the end of this year, and we will reconvene with them in 2019 to focus on subscriber retention," Campbell Brown, Global Head of News at Facebook, said in a blog post on Thursday.

Facebook also announced to contribute USD 1 million, under its Journalism Project, to the 'NewsMatch' campaign that doubles donations to non-profit newsrooms around the country. NewsMatch partners with several non-profit news organisations to offer hundreds of hours of fundraising training.

"Last year, 'NewsMatch' helped make 2017 a record-breaking year for giving to non-profit journalism and we are excited to help NewsMatch expand in 2018," said Brown.

"We're encouraged by the early successes of this programme, and proud of the tangible business results that publishers have accomplished so far," Brown noted. Earlier on Thursday, announced its partnership with Chennai-based Asian School of Journalism (ACJ), which aims at ensuring high-quality journalism in India.

The social media giant also plans to establish a scholarship programme at Asian School of Journalism. It will support five students from the institute in four career specializations - print, television, new media and radio. Partnership with ACJ will allow Facebook to help train journalism students on fact-based and high integrity journalism in the digital age.

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