This Canadian Media Giant Has Stopped Advertising On Facebook, Instagram: Here’s Why – News18

Telecom and media agency Quebecor mentioned on Wednesday it would pull its advertisements from Facebook and Instagram, following Meta Platforms’ resolution to cease entry to news on each the social media platforms in Canada over a legislation requiring funds to native news publishers.

The “Online News Act”, or House of Commons invoice C-18, launched in April final yr laid out guidelines to pressure firms equivalent to Meta and Alphabet-owned Google to barter industrial offers and pay news publishers for his or her content material.

Google and Meta beforehand mentioned they might block entry to news articles in Canada if the laws is handed.

Quebecor, which additionally owns media shops and newspapers, didn’t instantly reply to a request for touch upon how a lot it spends on ads on Facebook and Instagram.

Meta didn’t instantly reply to a request for remark.

Canada’s media trade has known as for tighter regulation of web giants to permit news companies to recoup monetary losses suffered within the years that Facebook and Google gained a higher share of the internet advertising market.

(This story has not been edited by News18 employees and is revealed from a syndicated news company feed – Reuters)