Facebook’s Retreat from News and Algo Change Panics Buzzfeed

Facebook’s Adam Mosseri announced last Thursday that it is getting out of the news business and going back to connecting people with personal stuff:

“Because space in News Feed is limited, showing more posts from friends and family and updates that spark conversation means we’ll show less public content, including videos and other posts from publishers…” 

Good for people who want to share pictures of their cats, bad for media organisations that have a business model based on cat GIFs. Twitter’s stock price rose 5% on the news that they will now be the main social news platform…

For Buzzfeed and other Facebook traffic driven organisations this is bad news, Buzzfeed gets some 23% of their traffic at the whim of Mark Zuckerberg. Unsurprisingly Buzzfeed bought adverts on Facebook on Friday pushing soon to be lost users to download their app. At one time Buzzfeed were spending millions on Facebook adverts, they may well have to do so again if their content is dropped from the Facebook feed. In the political sphere those sites that specialise in clickbaity headlines designed to go viral on Facebook may see a drop in traffic…

Approximately 7% of Guido’s traffic is referred from Facebook. Twitter on the other hand drives 23% of our traffic, just behind Google on 24%. The Spectator and Breitbart also rely on Facebook for some ~7% to 8% of their traffic. Skwawkbox and The Canary rely on Facebook respectively for a massive ~40% and ~48% of traffic…

N.B. Traffic data sourced from Similarweb.



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Quote of the Day

Rafael Behr writes…

“By 2012, the number of Brits with more or less active Twitter accounts had overtaken the number of people who regularly bought a newspaper.”

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