If Facebook chief executive officer Mark Zuckerberg is sincere in the recent past about gradually taking the media element of “social media,” he's striking a powerful blow for tech the evolution of his vision.
But getting the genie back in the bottle may be too difficult even for Zuckerberg, and, in any case, his creation's problems go far beyond his proposed fix.
The gist of Zuckerberg's criticism of Facebook is that “video and other public content have an exploded on Facebook in the past couple of years.” “Since there's more public content than posts from your friends and family, the balance of what's in the News Feed has shifted away from the most important thing Facebook can do – help us connect with each other, “he wrote.
Not coincidentally, Facebook's sales have almost $ 4.5bil (RM17.79bil). The average of the first three quarters of 2017 was more than double that, about US $ 9.2bil (RM36.38bil). That's the spoils of outcompeting the traditional media for the role of the top news purveyor to the US public – Facebook's most important audience in monetization terms.
According to Pew Research, in 2014, 64% of US people used Facebook and some 30% got news on it. By late 2017, the usage rate of barely budged, rising to 66% of US adults, but the share of those who got news on Facebook rose to 45%. As online platforms have closed on TV as Americans' primary source of news, Facebook has become the biggest of these platforms – without ever reporting a single news story of its own.
Facebook has been around since 2004, but its leadership on the media market is a very recent phenomenon. Now, Zuckerberg sounds as though he's prepared to relinquish it for reasons of principle.
Echoing a recent post by Facebook's Director of Research David Ginsberg and research scientist Moira Burke, the CEO writes that interacting with “people we care about” is better for users' well-being than “passively reading articles or watching videos – even if they're entertaining or informative. “
As a result, he's promising users will see” less public content from businesses. ” , brands and media. “Zuckerberg is preparing to see the time people spend on Facebook and other” measures of engagement “go down. The latter should hurt the revenues, but, according to Zuckerberg, a happier audience should be good for business long-term.
Snapchat, which redesigned its app in November to partition professionally produced. “While blurring the lines between the professional content creators and your friends has been an interesting internet experiment, it has also got some strange side-effects (like fake news) and made us feel like we have , “Snap, the corporate entity that owns the ephemeral messaging service.” The post-mentioned “separating social from media” as a strategy.
There are, however, several problems with this suddenly fashionable idea of heading up the anti-social media backlash. The biggest one has to do with the only business model that has worked so far in social media monetisation – the ad-based one.
We are used to seeing ads when reading or watching the news or otherwise interacting with professionally produced content. It's money to make slick content, and ads pay bills. In recent years, the acquiescence has spread to social networks. But do people want to see ads when interacting with friends and family – especially targeted ads based on information harvested from such interactions?
Facebook is, or soon will be, in a position to know, to its attempts to monetise one-on-one communication on running ads on Facebook Messenger. In July, 2017, Zuckerberg was not particularly happy with how that experiment was going. The difficulty is obvious: “Both Facebook and Snapchat will have a hard time selling it. Moving into media with superior distribution tools and targeting.
Even if the idea of monetizing users' private communication through ads becomes universally accepted, downgrading the media element in social media may be more difficult than it would have been to restart Facebook (and even Snapchat) from scratch. Comments under Zuckerberg's posts include many pleas to keep things as they are. Numerous users have set up their Facebook experience to the point of focusing on the delivery of professional content.
And how does one make use of the personal accounts of people who are using their personal accounts. tens of thousands of “friends” who are interested in and share their content, including whatever they are from the professional media. It can be done in the context of the “friends and family” shell. , in any case, may already be occupied by messenger apps, some of them are owned by Facebook itself. at all
Imposing on Facebook legal responsibility for libellous content – and for tracking down users who can spread the word, .
Even in the absence of such regulation, though, it's nice that Zuckerberg is coming around to leave news to professionals. Perhaps that will happen. Facebook has been taken lately. – Bloomberg