Have you heard the latest update? Facebook Commits $100M to Local Newsrooms! Facebook has become of great support to newsrooms that are working to cover the COVID-19 pandemic. How? This company is offering out the sum of $100 million worth support to these local newsrooms. So, if you actually heard of this but thought it was a rumor, then you have been wrong the whole time! Let’s move further to know what the company and others are saying about this donation.
Table of Contents
- Facebook Commits $100M to Local Newsrooms
- Facebook Donation to Newsrooms
- The Facebook $100 Million Grant Program for Small Businesses
Facebook Commits $100M to Local Newsrooms
At this very time, the new industry is working so hard to keep the whole world informed during this virus crisis. At this time when we need journalism more, we find out that ad revenues and funds seem to be a problem due to the economic impact of this pandemic. Local journalists undergo so much pressure as people turn to them for reliable information, in order to keep everyone safe.
This social media company states that the funding will consist of $75 million in marketing for news platforms around the globe, plus $25 million in grant funding for the local coverage services. What does this tell you? If you actually needed some proof to show that local journalism is important, then you can see one big-time commitment as a proof. The Vice President of Facebook also stated that most businesses are facing bad financial effects from this crisis of the pandemic. And they are most privileged to help out.
Facebook Donation to Newsrooms
Now, you know that Facebook Commits $100M to Local Newsrooms, but there is more to that. Earlier last month, Facebook announced a $1 Million in grants to support the funding of coverage of the pandemic. At the moment, this grant has supported about 50 newsrooms from different parts of the US and Canada. All these actually include the cost of traveling, remote work, and other necessary activities to be carried out.
This money will not only help to keep the journalists reporting from time to time, but it will also fuel up the chances for these media houses to pick up business transformation towards a sustainable digital footing.
All these are actually based from the start where this social company also donated a $300 Million grant already given. This served journalists around the world, in order fr them to engage in diverse news.
Facebook $100 Million Grant for Small Businesses
There is no doubt that the COVID-19 pandemic has been so hard on businesses, most especially small businesses. Some are even forced to wrap up their services this period. However, Facebook has announced that it will create a grant program of about $100 Million. This will apply to small businesses out there.
The application for this grant program is not yet open but the company will set up cash grants and other credits. There are about 30, 000 businesses trying to survive in this pandemic and Facebook is working to reach out to all of these businesses. They also want to host virtual trainings, which is creating more ways for people to connect and learn the efficient use of technology through the Facebook Blueprint.