As per the latest news coming on, Facebook has announced that the company is going to invest $300 million in Journalism activities. The vice president of Facebook, Campbell Brown has recently said that they are ready to invest in partnerships, news programs, and contents. They are ready to promote the local news by various news programs; this is very much popular now in the market. They have launched also the new features of the Facebook news feed as the part of their upcoming business plan.
The Reason Behind This Business Plan
Coverage of local new is suffering a lot as the publications are covering more the news about the struggle of their communities to create the ends meet. It is quite difficult for local publishers to monetize and attract the readers in this huge market of digital news. This is the reason that Facebook has decided to invest more in local news through the news programs and contents as this is a wide platform today to reach people and to get more page viewers. This is a three years plan and the vice president has published the blog with their plan that how they are going to use the first $36 million for the venture.
Mark Zuckerberg and his team have recently released a blog with their new journalism plan.
A Glimpse Of The Plan
Their investment plan has included the name of several local newsroom organizations and they are going to receive a huge amount of fund. Report for America is such a name that will get $2 million in order to give salaries of their 1000 journalists. To promote different news projects they are funding some groups like Pulitzer Center for the community level reporting projects.
Facebook is looking ahead to get some support from their partners to work together and to start a successful journey.
- They told that their project is focused around three major pillars like
- Complete collaborative improvements of several news items
- A set of tools and training process for the local journalists
- Also the set of tools and complete training for the well-informed communities
This is a big investment and huge initiative of the company to get more success. They are now meeting a number of publishers from each corner of the world and telling them how Facebook can help them to get more support for local news promoting.