Google Starts Innovation Fund for Digital Publishers in Europe

Google has started a digital news initiative in conjunction with eight major newspaper publishers. The aim is to develop new products and services that will gain more eyeballs on their publications.

When it comes to search in Europe, Google enjoys a 90% market-share and this is garnering some unwanted attention. The European Union is investigating whether or not Google is using search results to illegally promote their other products and services. News is not directly affected by this investigation. However, publishers have complained for years about the impact of Google’s use of their content.

In order to placate major news organizations and generate some possitive press, Google is going to work with the Financial Times and the Guardian to establish a working group to focus on product development as well as providing a €150m innovation fund over three years, alongside additional training and research. Google promises the end result of this fund will “increase revenue, traffic and audience engagement”.