Google will pay $1 billion for news over the next three years, the company announced in an Oct. 2 blog post.
The payments will come as part of the new Google News Showcase, a product that will feature “the editorial curation of award-winning newsrooms to give readers more insight on the stories that matter, and in the process, helps publishers develop deeper relationships with their audiences,” said the post.
News Showcase started rolling out last week to readers in Brazil and Germany, and will expand to other countries in the coming months, said the post.
The post touted Google’s other moves in the industry over the last several years, including the Google News Initiative’s $300 million commitment.
Nieman Lab provided an analysis of Google’s latest move. “The money, spread over three years and the entire globe, is welcome — but this is PR, not a product,” it said.