(MENAFN) Google has announced a T$300 million ($9.8 million) fund that will be launched over the next three years to help improve the digital competitiveness and continuing operations of the Taiwanese media. While the company has faced pressure in some countries to pay news publishers for their content, it is not under such pressure in Taiwan. The “Taiwan News Digital Co-prosperity Fund” will be used to pay local publishers to strengthen their digital publishing capability.
According to Google, Taiwan’s media industry is facing significant competitive challenges as it tries to adapt to the digital age. Advertising revenues for traditional media outlets in the country have dropped 70% between 2003 and 2020. The new fund is intended to help local media “hone digital skills, gain expertise, and support the sustainable development of Taiwan's news industry.”
During a press conference in Taipei, Tina Lin, managing director of sales and operations at Google Taiwan, said, “Even while Google faces many challenges in the overall international environment, Taiwan remains a crucial global stronghold.”
This latest initiative is part of Google's efforts to develop mechanisms to support and compensate regional news providers whose content appears on its platform. Governments may also impose regulations that require such mechanisms, and an Australian law that gives the government power to compel Google and rival Meta Platforms to negotiate content supply deals with media outlets has largely worked, according to an Australian government report in late 2022.
The launch of the “Taiwan News Digital Co-prosperity Fund” aims to help local media gain digital skills and knowledge, in addition to supporting the sustainable development of the news industry in Taiwan.
MENAFN12032023000045012476ID1105755656
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.