Local Journalism: America’s Most Trusted News Sources Threatened

Senate Commerce Committee Ranking Member Maria Cantwell (D-WA) released a  report showing the impact of the transformation of news online and the accompanying loss of revenue. The report shows one factor of the revenue loss is the unfair and abusive practices by tech platforms. The impact of these practices indicates the need for Congress to provide the Federal Trade Commission new authority to protect the local news industry. The report closely examines the unfair and abusive practices by major tech platforms that have contributed to the drastic revenue declines. The biggest online platforms unfairly use content, take local news consumer data and divert customers away from local news websites, while providing little in return.  The Congress and the FTC should act to address these unfair and abusive practices to help sustain the competition that local news provides. The report highlights the important role local news and journalists play in communities of all sizes throughout the country.  The report shows innovative new models already being used by publishers and broadcasters based on their value as a trusted brand. However, COVID-19 is also having an adverse impact.  The report shows a 45% decline in print ad revenue in 2020.