Following Google's Footsteps, Facebook to Pay $1B to News Industry

NEW DELHI: Facebook Inc. is all set to invest a whopping $1 billion investment to support the news industry over the next three years.

According to reports, the social media giant in the yesteryears has already invested around $600 million since 2018 in the news industry.

Meanwhile, in October 2020, Google said that it would also pay publishers $1 billion over the next three years. Notably, the news companies across the globe want Google and Facebook to pay for the news that appears on their platforms.

On the other hand, Microsoft is working with European publishers to push big tech platforms to pay for news.

European Union countries are working on adopting copyright rules that allow news companies and publishers to negotiate payments.

Further, the BJP led centre has announced a new set of guidelines to curb the misuse of social media platforms.

Union Electronics and Information Technology Minister, Ravi Shankar Prasad speaking in a press conference said that social media platforms upon being asked either by a court order or a govt authority will be required to disclose the first originator of a mischievous tweet or message as the case may be.

Further, the minister added that this should be only in relation to the sovereignty and integrity of India, the security of the state, public order, relations with foreign states, or rape, sexually explicit content etc.

Earlier in a notification, social media sites, including Facebook, Twitter and YouTube will have to share users' identities with the Indian government if they are asked to.

Meanwhile, Social media intermediaries have to appoint a grievance officer, who shall register complaints in 24 hours.

Under new guidelines, the Centre will be able to procure information of any user without a warrant or judicial order against the person. Further, content involving nudity, morphed pictures of women have to be removed in 24 hours.

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