Over time humans and their behavior has significantly changed, people especially in the last decade have shown a large influx towards technology and the internet. People that once used to consume a small amount of daily news from papers or Television now get a majority of their news from different social platforms on the internet.
With their steady rise and success at becoming the prime choice for news consumption, Social media platforms are earning large sums in revenue through news content.
One such social media giant is 'Meta' (formerly known as Facebook). Owning multiple high traffic social platforms Meta is probably one major source of news in different parts of the world; using its large user base to its advantage, the company surely does earn a lion's share from its news content. This was recently proved by a paper from the University of Cambridge.
Headed by economics professor 'Matthew Elliot', the paper focused on the earnings of different tech giants through digital news content. When talking about the amounts, the professor wrote that Google and Meta alone in the UK have earned a sum of 10.8 billion pounds and 5.3 billion pounds respectively.
The News Media Association (NMA), while publishing the report, demanded that the UK Government needs to set up new laws and regulations that reduce the monopolization benefits that Google and Facebook are enjoying and make them pay a better income to news publishers.
Professor Matthew Elliot made similar remarks about the report and said that news content earns a great revenue for these companies, thus a good amount of the benefits should also go to news publishers that invest hard work in producing quality news and not just in the pockets of technology giants like Google and Facebook.
H/T: PG.
Read next: Mobile Gaming Revenues for Q1 2022 See 6% YoY Decline
With their steady rise and success at becoming the prime choice for news consumption, Social media platforms are earning large sums in revenue through news content.
One such social media giant is 'Meta' (formerly known as Facebook). Owning multiple high traffic social platforms Meta is probably one major source of news in different parts of the world; using its large user base to its advantage, the company surely does earn a lion's share from its news content. This was recently proved by a paper from the University of Cambridge.
Headed by economics professor 'Matthew Elliot', the paper focused on the earnings of different tech giants through digital news content. When talking about the amounts, the professor wrote that Google and Meta alone in the UK have earned a sum of 10.8 billion pounds and 5.3 billion pounds respectively.
The News Media Association (NMA), while publishing the report, demanded that the UK Government needs to set up new laws and regulations that reduce the monopolization benefits that Google and Facebook are enjoying and make them pay a better income to news publishers.
Professor Matthew Elliot made similar remarks about the report and said that news content earns a great revenue for these companies, thus a good amount of the benefits should also go to news publishers that invest hard work in producing quality news and not just in the pockets of technology giants like Google and Facebook.
Read next: Mobile Gaming Revenues for Q1 2022 See 6% YoY Decline