Splinter reports that financial figures show that Google is taking home a paycheck from News almost as large as the entire journalistic community combined.
Last year Google made an astonishing $4.6 billion off the news industry, according to the New York Times. Thatâ€™s a shocking amount of money, considering the declining state of journalism, and the fact that Google isnâ€™t actually reporting or writing anything itself.
The figure was drawn from a new report by the News Media Alliance, who say the journalism industry deserves to see a cut of those massive earnings.
â€œThey make money off this arrangement and there needs to be a better outcome for news publishers,â€ David Chavern, the president and CEO of the alliance, told the Times.
The report points out that the entire news industry made $5.1 billion off digital advertising last year, which is only a little more than Google made off that same content. The News Media Alliance believes its estimate of Googleâ€™s earnings was conservative, and the real number may be much higher.
â€œThe study blatantly illustrates what we all know so clearly and so painfully,â€ , Philadelphia Media Network CEO Terrance C.Z. Egger told the Times. â€œThe current dynamics in the relationships between the platforms and our industry are devastating.