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Google, Facebook pledged millions for local news. Was it enough?
  + stars: | 2021-06-10 | by ( Helen Coster | ) + 0.00   time to read: +8 min
Google and Facebook accounted for 54% of U.S. digital advertising revenue in 2020, according to eMarketer, a market research company. Under the Facebook Journalism Project, for instance, Reuters received funding to develop a digital media training course for journalists. Both Facebook and Google have made contributions to the news industry apart from the $600 million. Both Facebook and Google say publishers benefit just from using their platforms, which deliver traffic that helps drive advertising revenue and subscriptions. The Seattle Times publisher said his paper has participated in programs backed by Google and Facebook.
Persons: , Maribel Perez Wadsworth, We're, Emily Bell, they're, , Campbell Brown, Ben Monnie, ” Brown, Adam Isserlis, Lance Knobel, Frank Blethen Organizations: Reuters, Google, Facebook, Gannett’s USA, USA Today Network, , Tow Center, Digital Journalism, Columbia University, Reuters Institute for, Journalism, Thomson Reuters, Publishers, GO, Associated Press, BuzzFeed, Cook, Post, HD Media, Seattle Times, Thomson Locations: South, Courier, Charleston , South Carolina, Cityside, Oakland , California, United States, U.S, West Virginia
Some digital media companies also have been preparing to go public, providing an exit for longtime investors, but could be a reason for more job cuts. its six-year history, the outlet was supported by its parent company, Dollar Shave Club, and did not need to make its own revenue. The next chapterDigital media companies are exploring their next chapter after years of raising round after round of venture capital. Bryan Goldberg, CEO of Bustle Digital Group, told CNBC that he predicted consolidation among those five digital media companies. It would make sense that to prepare for any SPAC deals, these media companies would cut costs through layoffs to improve their balance sheets.
Persons: Biden, doesn't, it's, Joel Kaplan, HuffPost, Jonah Peretti, Peretti, we've, Austin Rief, Rief, It's, they're, Emily Bell, BuzzFeed, Bell, Laura Bassett, Bassett, Ev Williams, Michael Dubin, MEL, Taylor Lorenz, Max Tani, Mel, Barack Obama, Jeff Bezos, Casey Newton, Williams, Newton, Bryan Goldberg, Kaplan Organizations: CNN, BuzzFeed, MEL Magazine, Vice Media, Covid, Syracuse University, HuffPost, Morning, Business, CNN Business, Verizon Media Group, Tow Center, Digital Journalism, Columbia's Graduate School of Journalism, Guardian, Google, Facebook, Fast Company, Journalism, New York Times, Daily Beast, Twitter, Digital, CNBC, Vox Media Locations: York, Canada, Instagram
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