Facebook on Thursday said it will give $5 million to pay local journalists in multiyear deals as part of its new publishing platform to help independent writers attract an audience and make money through the social media network. The move is part of Facebook’s answer to the trend of email newsletters, led by platforms like Substack, as it focuses on reporters “who are often the lone voice covering a given community,” the company has said.
Source: Facebook to pay $5 mln to local journalists in newsletter push