Earlier today, the Facebook Journalism Project announced that is was committing an additional $8 million over the next three years to support Canadian media.
In response to this news, News Media Canada president and CEO John Hinds has released the following statement:
“Facebook’s self-designed ‘fund’ speaks to the need for legislation. Today’s announcement confirms – Facebook is trying to avoid paying for content – by coming up with an arbitrary fund approach.
Legislation is the only way to ensure publishers are fairly compensated by Facebook and the other platforms for the use of their news content. When you take out the contribution to CP, it is $1.3 million a year for the rest of the Canadian industry. In Australia, where there is legislation to ensure fair compensation, Facebook will be contributing upwards of $100 million a year.”