Facebook Offers $100 Mn To Help Virus-hit News Media

Facebook Offers $100 Mn To Help Virus-hit News Media

Facebook said Monday it was donating $ 100 million to help the already fragile media hard hit by the COVID-19 epidemic to provide reliable information when it is most needed.

“The media sector is working under extraordinary conditions to keep people informed during the COVID-19 pandemic,” said Campbell Brown, in charge of the world’s first social network collaborations with the media.

“At a time when journalism is more essential than ever, advertising revenue is falling due to the economic impact of the virus. Local journalists are particularly struck as people turn to them for information crucial to the safety of their friends, family and community, “said Brown.

The new funds include $ 25 million in emergency donations for local journalism as well as $ 75 million in promotion assistance, Facebook said, without giving further details on the award criteria, if that only the most affected media around the world will benefit from this money.

The social media giant says that up to 30,000 small businesses will be eligible to receive cash grants or ad credits. They say they will be releasing more information about which businesses are eligible at a future date.

To sign up for updates from Facebook, click here.

Facebook has also created a Business Resource Hub to help businesses connect to much-needed resources during these uncertain times. You can access that hub here.

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