One BILLION Dollars from Google for news publishers
Yup, Google is going to splash the very large, round Dollar-based figure of one billion on the news industry in another attempt to quell the ire of newspapers going out of business and governments whose democracies are crumbling without the support of the fourth estate. That sounds like a lot of butter, but if you’ve got to spread it across toast the size of the world’s media, it’s going to spread pretty thin.
NiemanLab’s Joshua Benton isn’t impressed:
“So why is Google spending $1 billion on a product that will earn nothing, will be used by only a small fraction of its users, and won’t make reading headlines more than, what, maybe 5% better? Well, remember my third rule of duopoly checks to publishers:
“They want the money to earn them happy headlines like “Google Pledges $1 Billion to News Publishers,” get the press off their backs, and ideally lower the heat on calls for government regulation or taxation.“Joshua Benton, NiemanLab