Facebook will provide $ 100 million in financial assistance to support media affected by the coronavirus pandemic, Reuters reports.
“The news industry is working under extraordinary conditions to keep people informed during the COVID-19 pandemic,” said Facebook’s news partnerships director, Campbell Brown.
“At a time when journalism is needed more than ever, ad revenues are declining due to the economic impact of the virus. Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe.”
The social network announced a “$100 million investment to support the news industry—$25 million in emergency grant funding for local news through the Facebook Journalism Project, and $75 million in additional marketing spend to move money over to news organizations around the world.”
Facebook has recently announced that it will temporarily reduce the quality of video streaming in its main platform and in the Europe app.
In this way, the social network wants to help avoid potential network problems at a time when Europeans are working from home because of the coronavirus pandemic.