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Google To Pay $1 Bln To Publishers For Google News Showcase

Google Inc. (GOOG,GOOGL) said it will pay $1 billion to news publishers for a new Google news initiative.

The tech giant plans to pay publishers to create and curate high-quality content for a new mobile product called 'Google News Showcase'.

"Google News Showcase is a new product that will benefit both publishers and readers: It features 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," Google CEO Sundar Pichai said in a blog post.

According to Google, News Showcase is made up of story panels that will appear initially in Google News on Android. The product will launch soon on Google News on iOS, and will come to Google Discover and Search in the future.

These panels will enable participating publishers to package the stories that appear within Google's news products, providing deeper storytelling and more context through features like timelines, bullets and related articles. Other components like video, audio and daily briefings will also be introduced.

Google News Showcase will start rolling out Thursday to readers in Brazil and Germany, and will expand to other countries in the coming months where local frameworks support these partnerships. The countries include India, Belgium and the Netherlands.

Google said it has signed partnerships for News Showcase with nearly 200 leading publications across Germany, Brazil, Argentina, Canada, the U.K. and Australia. The publications include Der Spiegel, Stern, Die Zeit, Folha de S.Paulo, Band and Infobae, alongside regionally and locally significant publications such as El Litoral, GZH, WAZ and SooToday.

Pichai noted that over the last several years, Google has taken steps to support the news industry, from sending 24 billion visits to news websites globally every month, to the Google News Initiative's $300 million commitment, including emergency funding for local publishers globally to help with the impact of COVID-19.

The company has also announced a Digital Growth Program aimed at small and medium-sized publishers to accelerate their business growth.

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