Who's Really Making Money Off the News?
Hint: It isn't the publishers.
Amid a continuous stream of reports that the news industry is headed to its ultimate demise, someone is making big bucks off the biggest headlines; it just isn't the publishers. According to Statista, 80% of online readers are catching the latest news by scrolling through their Facebook (FB) - Get Report newsfeeds or putting in a search through Alphabet's (GOOGL) - Get Report Google. While Pew reported that total newspaper revenue fell to around $18 billion in 2016, Google's 2016 net income alone held at over $19 billion.
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