Google plans to pay 1 billion to news agencies

Google plans to pay  1 billion to news agencies

Internet giant Google has announced plans to pay  1 billion to news organizations around the world over the next three years.

Google pays the media to keep the news published in various media of the world on its webpage. Recently, the world's most popular magazines and news agencies have published their content

Google has been demanding a fair payment from Google for using it. The European media was at the forefront of such a struggle with Google.

Google CEO Sundar Pichai said the new product is being unveiled as per Google's plan. The service, called Google News Showcase, will initially be launched in Germany. News published in various German media can be read in one place on the platform. For this, Google has signed agreements with German magazines Der Spiegel, Stern, and The Chait. In Brazil, Folha has also signed deals with Saint Paulo, Band, and Info be.

According to Google, the service will be launched in Germany and Brazil, as well as in Belgium, India, the Netherlands, Argentina, Australia, the United Kingdom, and Canada. In Australia, however, Google's position on advertising revenue in Australia should be shared with local media.

Google CEO Pichai wrote in the blog, "Our biggest financial commitment so far has been to pay publishers to create and edit high-quality content to provide a great online news experience."

Google's parent company Alphabet, which earned  162 billion in revenue and 34.3 billion in profits last year, is expected to benefit news agencies, even if the announced payout to news publishers is not a big deal.

German magazine Spiegel has welcomed Google's move. According to Spiegel, Google's move shows that it is serious about supporting quality journalism in Germany. News Corp, which had earlier petitioned the European Union for action against Google, has also become enthusiastic about Google's project.

Google will launch the feature on Google and Android devices via Google News. Publishers will be able to choose which content to highlight in Google News.

Other Internet publishers have expressed dissatisfaction with Google's move to sponsor news agencies. In particular, weather-related and information-sharing websites have reported that Google's move will harm their revenue.