As the world reels under the COVID-19 pandemic with billions in lockdown, journalists are among other professionals working on the frontlines of this battle. Facebook, recognizing the importance of local journalists at this hour, has announced an investment of USD 100 million dollars to support the local news industry.
"$25 million in emergency grant funding for local news through the Facebook Journalism Project, and $75 million in additional marketing spend to move money over to news organizations around the world," a statement released on Facebook Journalism Project said.
The move comes amid reports of losses across industries around the world owing the virus crisis.
Owing to the economic slowdown in the coronavirus-affected countries, businesses will no longer invest in advertising which translates to a loss of revenue for many print and digital news organizations. The lockdowns in many countries have also made it difficult for local media houses to stay afloat.
COVID-19 Community Network grant program
They are funding journalists directly through the COVID-19 Community Network grant program to help reporters cover stories from areas that are hit the hardest. The first round of the grant has already been distributed to "50 local newsrooms in the US and Canada."
For a company that has had a rocky relationship with the media, it has already invested up to USD 300 million in the industry.
In the wake of the coronavirus crisis, the social media moghul has contributed to the fight against the virus in many forms.
Fight against the virus
Facebook, along with Google, is also in talks with Washington over potentially using inviduals' personal data to track and combat the COVID-19 outbreak according to a US media report.
The project would involve collecting information about locations from citizens' smartphones to use it anonymously to map the reach of the disease and predict outcomes -- for example, urgent medical needs in an area.
But the use of personal data has always been a point of contention, especially in the US.
Tackling fake news
According to Forbes, they have released a slew of measures to keep fake news regarding the virus at bay which includes developing algorithms that take down false or sensational ads like homeopathic remedies that will cure the virus (when it is known that no cure has been discovered.)
Governments around the world including the UK and India have teamed up with Facebook and Twitter to disseminate facts and information about COVID-19 via the apps.
For example, the Indian government and WHO have released chatbots on WhatsApp to fight the battle against fake news.
The social media moghul has also been affected by the virus. Three of its offices in London had shut early March after an employee who travelled from Singapore was infected with the novel coronavirus and it enabled work from home for employees in some areas in the US.