Facebook to pay $5 million to journalists for being part of its new publishing platform

Facebook announces to pay $5 million to local journalists in an effort to encourage them to write independently on its new publishing platform.

On Thursday, Facebook announced that it will pay $5 million to local journalists in multi-year deals as part of its new publishing platform that will 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," Facebook has said as reported by Reuters. 

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Facebook's publishing platform will be integrated with Facebook Pages that will include a free self-publishing tool for journalists to send out newsletters or create their own website. Journalists can apply to the program and priority will be given to those who cover stories on Black, Indigenous, Latinx, Asian or other audiences of color.

Facebook will also allow Journalists to earn additional money by publishing their stories using Facebook's tools or starting with subscriptions. Facebook also plans to partner with the Washington-based International Center for Journalists and National Association of Hispanic Journalists to evaluate applications and will give the journalists selected access to experts and services to help them build a news business.