Google and Facebook cosy up to media companies in response to the threat of regulation
As pressure mounts on Google and Facebook, Merja Myllylahti explores how the tech giants’ relationship with media companies will be affected in this crossposting from The Conversation.
As watchdogs, regulators, tax agencies, and lobby groups apply more pressure to tech giants Google and Facebook, the two companies are rebranding in response.
The latest projects are purported to support local and quality journalism, and “real news” instead of “fake news”. Google announced that it would splash US$300 million to support journalism, fight against misinformation, and to help “building a stronger future for news.” Corporate jargon never fails to delight me.
While launching its latest offering to news publishers, Google’s chief business officer Phillip Schindler said the company was deeply concerned of the dire state of “business of journalism”, and that the pressure in the industry “matters deeply to Google.”
Hence the launch of new payment system subscribe with Google which is aimed to help news publishers to convert readers into subscribers.
