Date : 04 August 2021
Location : Australia

Facebook Newsroom has put in $15 million as a News fund to promote Australian public-interest journalism.

The fund will be in the Newsroom Sustainability Fund and the Public Interest Journalism Fund to support the digital newsrooms find their economic sustainability.

The former funding aims to build innovation and revenue-generating projects such as subscription paywalls and more. While the latter aims to promote media diversity, promoting regional and independent journalists in their news projects.

Both the Funds have allocations of $2.5 million each year for three years.

Andrew Hunter, Facebook Australia News head, feels the investment will boost independent journalists, as Facebook News compensates news publishers for their content. However, the program has halted in Australia following the government's draught news media bargaining code.

The platform is keenly interested in extending support to underserved communities, such as indigenous Australians, youth, women’s issues, and the LGBTQI+ community.

In addition to the funding, Facebook is also introducing its Facebook News tab to Australians to expand the product to more users in the coming months.

Developing the program in a phased manner will ensure that the program works to benefit Australian audiences and Facebook the most.

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