Zuckerberg announces Facebook is ready to change the 'bulletin board'

Zuckerberg announces Facebook is ready to change the 'bulletin board'

Zuckerberg announces Facebook is ready to change the 'bulletin board'

Facebook's news feed move was seen as a response from the company to criticism it has faced over the past 12 months for its failure to prevent hate speech and abuse on its platform, and for the sheer power and influence it wields over society.

The announcement itself is rather vague in what consumers can expect - will they see all posts from friends/family members? will they see some ad posts, from brands they regularly interact with? what happens to sponsored and other advertisement type posts? what might this move mean for publishers, who are increasingly using Facebook to drive traffic to their sites?

The average view time on videos in the Watch section is more than 50% higher than Facebook's self-reported news feed video average of 17 seconds, according to an analysis of 250 Watch videos by social media analytics company Delmondo.

In a follow-up to show that Zuckerberg's actions match his words, Facebook last week announced that it will make sweeping changes to how the "News Feed" is presented to its approximately 2 billion users worldwide.

Mark Zuckerberg's decision to change the news feed operation by Facebook cost him a big loss amounting to $3.3bn.

"As we roll this out, you'll see less public content like posts from businesses, brands, and media", he stated.

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Zuckerberg said he expects the time people spend on Facebook and some measures of engagement will go down as a result of the move. As a brand, he added, OCBC is always looking to create valuable and engaging content for its customers and the public.

The comments come after widespread media speculation about the impact of social media on how consumers perceive issues and society, and the potentially harmful effects of bogus news and extremist content in news feeds. And if we do the right thing, I believe that will be good for our community and our business over the long term too.

Facebook refers to the problem as the "context collapse" - the phenomenon where people stop sharing as much information about their personal lives on Facebook, yielding less useful data for the advertisers.

Admitting that its changes will likely reduce the time people spend on Facebook less was a big deal for the company. Not necessarily. But publishers must become more strategic about how they use Facebook if they want to keep getting value from the channel.

In India, the "meaningful engagement" that Facebook hopes to drive is mostly clouded by people pushing and subscribing to a convenient view (not necessarily based on facts). Content from businesses, brands and media will be featured less prominently.

This is as simple as asking them to comment or like if they like it your content. Meanwhile, passive consumption of articles and videos made them just feel bad.

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Markets reacted badly to the news, with shares falling more than four per cent overnight. Video and other public content have exploded on Facebook in the past couple of years.

Facebook's stated goal of its recalibration is to bring people together.

Mahaney said a recent survey his investment bank conducted showed 11 percent of Facebook users were extremely satisfied with the platform, down from 15 percent a year ago.

Facebook says it will prioritize what users' friends and family share and comment on while de-emphasizing content from publishers and brands.

Facebook's changing algorithms will force publishers to adjust how they manage their online spaces.

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