A week ago, Facebook was resisting efforts to pay for news in Australia. This week, we found out the cost to Facebook… $1 Billion over 3 years. This was to keep high-quality journalism rolling in the land of thunder, but I can’t help but wonder exactly how large their news industry, or even our news industry. That’s 10,000 journalists receiving $100,000 a year. Facebook paid the bill. So did Google. So will others.
The pledge comes as Australia passes a new media law designed to make tech giants pay for news.