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Snapchat says it generated $100 million in revenue for content partners on Discover in 2017, up from $58 million in 2016 and $10 million in 2015. 

Why it matters: In the short-term, Snapchat's relationship with its publishing partners won't significantly impact revenue or investors' confidence in the platform, but in the long term, we've seen from Facebook how relationships with publishing partners can be crucial towards launching and popularizing new products. 

Context on revenue: Facebook said it paid publishing partners using Instant Articles $1 million per day collectively last year. More than half of Instant Articles partners have reportedly abandoned the platform now that Facebook is pushing publisher content to “Watch” instead. 

Facebook has used publishing partners to push new products onto its platform that it eventually popularized amongst general users.

Two examples:

  1. Watch: Facebook is reportedly transitioning its "Watch" premium video platform to now include more content from individual creators, similar to YouTube, after it initially launched the platform and hooked eyeballs to it with publisher-only content. Facebook has not reported how much revenue it is currently generating for content partners on Watch. 
  2. Live: The company began paying publishers to produce "live" video content in 2016, only to stop paying them the following year after the product became popular enough to be sustained by everyday users.

Go deeper

Updated 1 hour ago - Politics & Policy

Facebook paying up to $14M to settle employment discrimination claims

Photo: T.J. Kirkpatrick/Bloomberg via Getty Images

Facebook has agreed to pay up to $14.25 million to settle allegations that it discriminated against American workers by reserving positions for temporary visa holders, the Justice Department announced on Tuesday.

Why it matters: The settlement represents the largest civil penalty and monetary award that the Civil Rights Division has recovered in the 35-year history of the Immigration and Nationality Act's anti-discrimination provision.

Updated 3 hours ago - World

Mapping repression in China's Xinjiang region

Data: © Mapbox, © OpenStreetMap; Map: Will Chase/Axios

A sweeping new report released today by an Australian research organization reveals new details about how the Chinese Communist Party — and specifically who within the party — is carrying out its campaign of repression in Xinjiang.

Why it matters: Uncovering the actual offices and individuals implementing the Chinese government's genocide and forced labor policies in Xinjiang can bring accountability and help international companies delink supply chains in compliance with U.S. and EU forced labor laws.

Report: U.S. Latinos near 50% homeownership rate

Real estate broker Alex Betances sits in front of a home in Reading, Pa. Photo: Ryan McFadden/MediaNews Group/Reading Eagle via Getty Image

Latinos increased their homeownership rate to nearly 50% in 2020, according to a report from a group monitoring U.S. Hispanic wealth creation.

Why it matters: The Hispanic Wealth Project found that the homeownership rate grew despite the lack of diversified financial assets among Latinos and around 15% who still live below the federal poverty line ($26,500 for a family of four).