Meta, the parent company of Facebook, has announced that it will not renew commercial deals with news publishers in Australia and the U.S.. This decision comes after the number of people using a dedicated tab for news on Facebook in these countries dropped by more than 80% last year, according to The Wall Street Journal.
The move signifies a shift away from its previous strategy, and Meta also plans to remove the dedicated news feature.
These changes impact existing agreements with publishers. For instance, News Corp, which publishes The Wall Street Journal and Dow Jones Newswires, had a three-year deal with Meta regarding Australian news. Additionally, News Corp had previously reached a deal with Meta in the U.S. However, deals in the U.S. and the U.K. have already expired.
As Meta reevaluates its approach to news content, the landscape of digital media continues to evolve. The decision not to renew these deals reflects the challenges faced by both tech companies and traditional news outlets in adapting to changing user behaviors and preferences.
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