Big Tech’s big blow to the news business
Google News and Facebook are sucking away ad revenues from news outlets. Now, there’s some blowback
Google made $4.7 bn from the work of news publishers in 2018, slightly less than the $5.1 bn earned by the entire US news industry from digital advertising last year
On 11 June, the US Congress’ House Judiciary Committee launched an investigation into the market dominance of Silicon Valley’s biggest firms, starting with the impact of digital platforms like Google on news publishers. The US justice department and the Federal Trade Commission (FTC)—which lead anti-trust enforcement in the country—are already gathering ammunition.