[idrios]

Because Facebook's news feed cuts out news outlets as middlemen. Though now Reddit, Instagram, LinkedIn and a number of other sites do too so it was pretty inevitable, but Facebook started the trend and before that the only way to get news was pretty much just through major media outlets that you paid for like newspapers or tv news.

Sorry that I don't have numbers

[qnt]

Right, but Bloomberg doesn't make (meaningful) money from showing news to a wide audience. Bloomberg is somewhat unique among news providers in that _news is the advert_ for the company.

They sell a software terminal at about $20k/yr subscription, and there are > 325,000 paying subscribers. It's nearly an essential tool in finance. https://en.wikipedia.org/wiki/Bloomberg_Terminal.

It's pretty neat, there's some really interesting tech and history involved but it's all hidden away in a very insulated industry.