According to the latest report, Meta-owned Facebook is reassessing its commitment to paying for news, according to people familiar with the matter, prompting some news organizations to prepare for a potential revenue shortfall of tens of millions of dollars.
In 2019, Facebook struck three-year deals with various publishers, which expire this year. On average, the company pays the Washington Post more than $15 million a year, the New York Times more than $20 million and the Wall Street Journal more than $10 million a year, people familiar with the matter said.
The WSJ’s fees were largely paid as part of a broader deal negotiated by its parent company, Dow Jones & Co., with Facebook News that included annual payments worth more than $20 million.
People familiar with the matter said Facebook has not provided publishers with any indication that it plans to continue or stop the cooperation in its current form.
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