Alphabet’s Google is planning to pay $1bn to publishers globally for their news over the next three years. This was announced by the CEO on Thursday. This is a step that could help it win over a powerful group amid heightened regulatory scrutiny worldwide.
News publishers have for long battled the world’s most popular internet search engine for compensation for using their content,with European media groups leading the charge.
CEO Sundar Pichai disclosed that the new product called Google News Showcase will launch first in Germany, where it has signed up German newspapers including Der Spiegel, Stern, Die Zeit, and in Brazil with Folha de S.Paulo, Band and Infobae.
He continued to disclose that it will be rolled out in Belgium, India, the Netherlands and other countries. About 200 publishers in Argentina, Australia, the United Kingdom, Brazil, Canada and Germany have signed up to the product.
“This financial commitment – our biggest to date – will pay publishers to create and curate high-quality content for a different kind of online news experience,” Pichai noted in a blog post.