Allegedly, the sum will be aimed to improve relations with publishers, over the next three years, with the main purpose to stimulate innovation in digital journalism and make news content more appealing to the reader.
Analysts claim that Google is interested in making this investment for more than one purpose. It has been alleged that the tech giant wants to improve its relationship with European publishers, but is also willing to look better in the eyes of Europe.
Google's initiative involves investing no less than 150 million euro (about $164 million) during a three year period. The announcement was made during the FT Media Conference that took place in London.
In the feedback we hear from publishers and editors, it is clear that there is a great desire to experiment more freely, but risk-taking comes at a cost, a statement from the famous company said.
The purpose of this is to make grants available to projects which demonstrate new thinking in digital journalism. Anyone working on innovation in online news in Europe will be able to apply, including national and regional publishers, new players and pure players, it added.
So, it seems that Google plans on fixing its troubled relationship with publishers, admitting a lack of cooperation with the news industry in Europe and claiming that the lack of a perfect functionality on this market would only impact the readers.
So, Google wants to make sure that news publishers will continue to opt in to Google News and have their latest subjects shared there.
The feud between Google and publishers has been on for years, linked to the Google News service. Many publishers have accused the famous company, claiming that Google had no right to aggregate news content and display headlines, which were released by other publications. The tech giant was accused of stealing users and content for their own revenue and profits.
Consequently, various boycotts were organized against Google News in Europe. The famous company lost an important battle in Spain, back in December, 2014.
Actually, Google had to disable the service in this country, following a new copyright law adopted there. The law required the company to pay for the right to show publisher content.
Opposition was also met in Germany, but here the famous company was able to solve it easier. In 2013, the German government adopted a law that allowed publishers to charge search engine and aggregators for using their content.
Google asked publishers to opt in if they wanted their post to be displayed in the service, without a fee, and many choose to still be featured.
Google News is without a doubt an extremely popular service, used by numerous customers, so there is no wonder that many publishers want their content and headlines to be displayed here.