Facebook owner Meta is to stop paying for news content from UK, French and German publishers, it announced today, with Facebook news also to close in early December.
“As a company, we have to focus our time and resources on things people tell us they want to see more of on the platform, including short-form video,” Meta said in a statement.
“We know that people don’t come to Facebook for news and political content – they come to connect with people and discover new opportunities, passions and interests.”
No details were given about how much Meta pays for news content, but reports today suggested the sum ran into the tens of millions in the UK alone and would amount to a serious loss of income for the publishers concerned.
Reach, which owns the Mirror, Daily Express, and Star titles, has said it receives regular monthly fees from Facebook and Google for content.
Existing contracts will be honoured but not renewed, said the Facebook owner.
Meta has already stopped paying news providers in Canada over a proposed new law that would require payment to news providers by social media platforms.
Publishers argue that social media groups get news content for free through users sharing stories.
Meta said sharing would still be allowed in Europe though this too has been halted in Canada.