Agence France-Presse
9:07 pm | Friday, October 14th, 2011
“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.
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