Meta has reportedly agreed to pay News Corp up to $US50 million a year in an AI-content deal.
The Wall Street Journal, owned by News Corp, reports the deal will run for at least three years and allow Meta to use content from the US and the UK.
The latest deal is significant because it is with the world’s major social media platform.
News Corp has been leading publishers to demand payment from AI players.
The company in 2024 signed a multi year deal with OpenAI for the artificial intelligence player to use the global media group's premium content.
Meta last year announced AI content deals with CNN, Fox News, Le Monde Group, People and USA TODAY.
News Corp CEO Robert Thomosn, speaking to a Morgan Stanley investor conference this week, said the media group was at an advanced stage with negotiations for AI content deals.
“You won't have too long to wait,” he said.
“And what we are also finding is that more of these vertical specialists are coming to us because the data and the information and the news that they input has to be reliable.
“It's hard to beat the Times of London or the Australian or Dow Jones, obviously, as an input.
“And it might be agricultural information. We own the weekly Times in Australia, the best known agricultural masthead. And if you're interested in creating an agricultural vertical of some kind, you need reliable information.
“There's another concept that people need to bear in mind, which is what you might call passive content and active content. So as a reader, it's passive content. You may be an engaged reader, but essentially, it's a passive relationship.
“What these companies now recognise, as they productise content, essentially, that's active content. And so the value of active content requires a premium in the purchase of it.
“I think you actually see a dramatic change in the appreciation of the value of our assets over time, simply because more and more people will be coming to us in the financial sector, in energy, in rural services, in general news, in business generally, related services because they've come up with an idea for a product.
He said AI is essentially retrospective
“If you want to be contemporary, you have to have immediacy. And as we are a company that's minute after minute, hour after hour, generating fresh immediacy, we have something that these companies not only want but need.”
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