Saving journalism. [updated 2/19/19]

Major Tech Cos to the Journalism Rescue.

In this week’s Axios Media Trends, we can read “Major tech companies and moguls are pouring lots of money into initiatives to support quality journalism, after months of bad headlines about fake news and the longer-term struggles of business models for journalism, especially at the local level.”

Doing it again.

Microsoft President is making a very interesting point:

“I think we should all care about high quality journalism. … I keep hoping that we’re gonna see the journalism profession come out the other end. Remember, a decade ago, people were saying, ‘Gee, there’s no future in high quality audio visual entertainment.’ It [was] being decimated by cable and then a new business model emerged.”
— Brad Smith

Facebook, Google: $300M each.

Large tech are showing signs of love to journalism. After the 200,000 free Google Suite account, Facebook and Google, each are granting $300M to news programs. WordPress is also investing “six figures” in The News Project, a full-service publishing platform specifically built for digital news publishers.

WordPress just announced Newspack in partnership with… Google.

“While local media might not get as much coverage as the national press, it serves an equally important role in society. That’s why the decline of local newsrooms in the U.S. has been a troublesome trend in recent years. The Google News Initiative is now partnering with WordPress to invest $1.2 million in creating a “fast, secure, low-cost publishing system tailor-made to the needs of small newsrooms” called Newspack (backed by Google, the Lenfest Institute, the Knight Foundation, and others.)

Journalism, the cure to media distrust.

As we wrote previously, quality journalism respecting privacy and transparency, delivering the brand values of the media they work for is the solution to the current distrust, driving to misinformation and, ultimately, to violence.

Top 2019 predictions: Privacy and Transparency

Optimism and method for greater trust in media.

A win-win relationship

Large tech, such as Facebook and Google need media. No trust in media means less dialogs online, less traffic for them.

By providing the framework to provide quality journalism AND a more sustainable business, large tech and medias are on a sound win-win relationship.

We will have to watch carefully the dependance on media businesses, but for now, we, at TrustedOut approve those initiatives helping our Corpus Intelligence with solid, well profiled medias.

Update: Pledges to save local news reach nearly $1 billion

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Freddy Mini

CEO & Co-founder