Google insists newspapers not losing out on Internet
Agence France-Presse
AP
VIENNA–Internet search engine Google insisted Friday it was not stealing business from the print media even if it has become an increasingly important source of news on the Web.
“We are not making money on the back of newspapers,” Stefan Tweraser, head of Google Germany, told a media industry conference in Vienna.
The company pays around six billion US dollars (4.35 billion euros) for news services worldwide and draws content from some 50,000 publishing companies around the world, Tweraser said at the annual gathering of the World Association of Newspapers and News Publishers (WAN-IFRA).
“Google’s real business model is partnerships… Google News lives because we have 50,000 partners with whom we share our revenues.”
Dismissing criticism that Google, as an aggregator of Internet content, held a de facto monopoly over news on the Web, Tweraser pointed to fellow search engines Yahoo! and Bing, as well as local competitors in Russia and China.
“So there are a lot of alternatives to Google,” he said.
Google reported on Thursday a big jump in profits in the three months to September as its budding online social network blossomed and Android smartphones gained traction.
Net profit rose to $2.73 billion on the wings of online advertising revenue that soared to $9.72 billion in the third quarter, which ended September 30.
Other Stories:
Recent Stories:
Tenorio holds head high despite Finals sweep 4 mins elapsed
MNLF, MILF clashes in Cotabato City stop as Police, Army referee 6 mins elapsed
‘A wonderful ride from 0-4,’ says Chua on Ginebra’s run 19 mins elapsed
Cebu mayor’s son arrested 44 mins elapsed
Taylor Swift wins 8 trophies at Billboard Awards 1 hour elapsed
Tornadoes level homes in Oklahoma; 21 injured 1 hour elapsed
Businessman faces raps for illegal possession of firearms, smuggling 2 hours elapsed
Trillanes receives certificate of proclamation from Comelec 2 hours elapsed
Tags: Google , Internet , Media , newspaper , technology
