Facebook refuses to admit that they are a media company. Like all media companies - they produce media content, they sell advertising on the content that they create - they even sell advertising on behalf of other companies to its users. It is in every respect a media company as well as an "evolving" social platform whether they choose to admit it or not.
Facebook recently announced that they are going to make a large change to their news algorythym that will no longer prioritise news services and other brand content. This is a huge shift in how Facebook operates. Brands and News outlets have invested millions into promoting their band on Facebook (and indirectly Facebook). Now it appears that at a time when news outlets everywhere struggle for readership - the axe is about to fall on a more than a few news sites and the reach of some brand advertising is about to be diminished.
Is There A Silver Lining?
Facebook is looking to increase engagement between you and your followers. You will see more updates from your friends and relatives rather than news outlets and brands. Facebook feels this will create more local group involvement and discussion and create deeper communities tied to the platform. For a national newspaper this may spell disaster.
For a company in an industry like home decor this could be a blessing and a curse. A larger company retailing furniture or or decorative paint might actually find their exposure increase in their local market. On the other hand a company who makes its living off of selling to all US states and multi-nationally might find themselves facing challenges. Marketing in the furniture and home decor industry is similar to that of any industry in the 21st century - where brand advertisers and marketers had long term plans - the 21st century requires companies to look to the handful of players such as <a href="http:///www.google.com>Google and Facebook and act in a reactionary fashion as it is impossible to know what changes they have in the pipeline.
Where there is disaster there is always opportunity. Localisation is playing an increasingly more important role in search and social results. If Facebook does indeed follow through on its plans to change their algorithm - local outlets and local brands will likely see more attention from the market in which they operate. Terrible news for a site like Buzzfeed - but definitely an opportunity for local groups and outlets to engage in meaningful relationships with people in their geo-community.
Will this help Facebook increase time on page per user and other metrics it uses to measure its success? Time will tell.
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