Media playing an important role suffers from an epidemic no less than the rest of the business
The media decided to send an additional $ 100 million to the news industry to address the crisis posed by the spread of the new coronovirus infection.
The $ 25 million will be provided as a grant to finance small, regional publications under a project called the Facebook Journalism Project. The remaining $ 75 million will be allocated to “additional marketing expenses” for news organizations of all sizes, both in the US and abroad, to help them compensate for the expected drop in revenue.
News outlets are expected to face significant reductions in advertising revenue, as companies cut marketing budgets due to financial uncertainty. Despite the fact that many editorial offices have recorded an increase in readership in recent years, declining advertising revenue leads them to pay cuts and layoffs. Facebook said it wants to help the media avoid such measures.
The company will also support small businesses affected by the outbreak of coronaviruses through grants and advertising loans totaling $ 100 million. Up to 30,000 enterprises in more than 30 countries of the world where Facebook operates can count on help.
Paypal magazine help
Recall that the Ministry of Health of Ukraine has agreed to cooperate with Google. The service goes into negotiations within the framework of information aid aimed at preventing the spread of coronovirus infection in Ukraine.
The ministry said they also received a grant in the amount of $ 500 thousand, which would go into a search operation as part of the priority of official sources of information.
Read: Scientists sound the alarm: applications that secretly collect information about users.