Meta Eyes Cutting Funds to News Companies After Reader Drop – PYMNTS.com

Meta is looking into cutting the funds it gives to news organizations, Reuters reported Monday (May 9).

This comes as Meta is noticing that less people have been clicking on news links since former President Donald Trump left office.

The social media giant is reportedly evaluating some of the partnerships that it has formed over the last few years. Meta also recently said it’s slowing down the growth of its workforce, after the recent recording of the most sluggish revenue growth in a decade.

Meta has faced several challenges as of late, including a disagreement with the German antitrust watchdog over its data collection. Meta recently said a German antitrust order curbing its data collection was “clearly flawed” and undercut European data protection regulations.

Meta’s comments came after the German antitrust watchdog had ordered it to quit taking user data without consent. According to the watchdog, Meta had been abusing its market power.

This case was part of a larger, global…

Read Full Story: https://www.pymnts.com/meta/2022/meta-eyes-cutting-funds-to-news-companies-after-reader-drop/

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