Additional $100 mn from Facebook to support news industry during COVID-19 crisis
The news industry worked under extraordinary conditions to keep people informed during the COVID-19 pandemic. 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. In such situation, Facebook announced an additional $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 organisations around the world.