The statement says that Google and Facebook use huge quantities of news shaped at a great cost by publishers without paying for it.
The statement also said that Facebook reported revenues of $40 billion in 2017 and profits of $16 billion, while Google+ made $12.7 billion on sales of $110 billion.
Biggest news agencies from European Union have recently slammed Google and Facebook of “plundering” news for free, called on the internet companies to share more of their revenues with the media.
They stated in a joint statement that these organisations use huge quantities of news shaped at a great cost by publishers without paying for it.
The Phys reports that in a column signed by the CEOs of around 20 agencies including France’s Agence France-Presse, Britain’s Press Association and Germany’s Deutsche Presse-Agentur they called on the European Parliament to update copyright law in the European Union to help address a “grotesque imbalance”.
The statement also said that Facebook reported revenues of $40 billion in 2017 and profits of $16 billion, while Google made $12.7 billion on sales of $110 billion.
They further said it poses a threat to both consumers and democracy.
