Facebook News Tab is supposed to launch this fall. More details are coming out about Facebook’s planned News tab. FB will pay participating news publishers to display their headlines and article previews.
Here is what we know so far:
Human editors will be responsible for curating a “Top News” tab. The editors will look at articles’ sourcing in deciding what to feature. They’re supposed to “seek to promote the media outlet that first reported a particular story, and additionally prioritise stories broken by local news outlets.”
If the editors really end up following those guidelines, and if Facebook News gets enough participation from local publishers, the offerings in the tab will look pretty different from those in Apple News which is barely featuring stories from local news publishers. Instead, they often featuring national publications’ versions of stories that were first reported by local outlets.
Facebook hasn’t yet confirmed the publishers it’s working with. One person who has seen a version of the tab being tested by Facebook employees said it featured stories from The Wall Street Journal, ABC News, CBS News, National Geographic, BBC, The Huffington Post, and The Hill, though some of those publishers don’t appear to have officially struck agreements with Facebook yet.
Previously was reported that Facebook was offering publishers three-year licensing deals in which it would pay them as much as $3 million a year. But, as CNN’s Dylan Byers noted last week (he also says the money on the table is more like $2 to $2.5 million), the News Tab is an easier sell for some publishers than others: Many of the small and mid-sized publishers he’d talked to had already signed on. If you’re a website like the Dallas Morning News or BuzzFeed, this is effectively free money. Facebook isn’t asking you to spend the money on creating new content — it’s just giving it to you in order to link back to what you already produce. It’s a 100 percent profit margin”. On the other hand, some larger news outlets are balking: Yeah, it’s a lot of money, but “it’s ultimately not that much relative to what your company (or parent company) already makes on its own.”