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11
July 2017
With
Facebook and Google grabbing vast majority of the digital ad market, many
newspapers in the US are planning to strike at the tech giants to get an
antitrust exemption from Congress to negotiate collectively over advertising
revenue. The Total Investment & Insurance
Solutions
According
to a report in Washington Times on Monday, the News Media Alliance, that
represents roughly 2,000 US' national and local newspapers including The New
York Times, The Wall Street Journal and The Washington Post, has started
reaching out to Capitol Hill to sound out the chances for an exemption. The Total Investment & Insurance Solutions
"We're
not looking to break up Google and Facebook by saying they have a duopoly here,
what we are saying is there has got to be a way to improve the business
model," Paul Boyle, Senior Vice President (Public Policy) News Media
Alliance was quoted as saying.
According
to Boyle, newspapers had thought allowing their articles to be shared on social
media would earn them a piece of the digital ad market.
"But
Facebook doesn't always allow the reader to click through to the publisher's
website, denying the news website ad revenue from that reader," he stated.
Facebook,
however, said the company is committed to helping quality journalism thrive on
its platform. The Total Investment & Insurance
Solutions
"We
have already been working with publishers and we're making progress through our
work and have more work to do," the report quoted Campbell Brown, Head of
News Partnerships at Facebook, as saying. The
Total Investment & Insurance Solutions
According
to media reports, Google and Facebook control nearly two-thirds of the digital
advertising industry, and newspaper revenue from advertisements declined to $16
billion in 2016, down from about $50 billion 10 years earlier.
"Google
and Facebook dominate web traffic and online ad income. Together, they account
for more than 70 per cent of the $73 billion spent each year on digital
advertising, and they eat up most of the growth," David Chavern, President
of News Media Alliance, was quoted as saying.
"Nearly
80 per cent of all online referral traffic comes from Google and Facebook. This
is an immensely profitable business," Chavern said. The Total Investment & Insurance Solutions
Reacting
to the News Media Alliance's latest move, Google said it wanted to help news
publishers succeed and lately, it had built numerous specialised products and
technologies, developed specifically to help distribute, fund, and support
newspapers.
"This
is a priority and we remain deeply committed to helping publishers with both
their challenges, and their opportunities," Google was quoted as saying in
a press statement.The Total Investment & Insurance
Solutions
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