Facebook changes its news feed to focus on family and…
Mr Zuckerberg outlined a less absolute change in his post that will see commercial content de-prioritised rather than removed from the news feed all together.
Nic Newman, a digital media strategist who authors the Reuters Institute Digital Report for Oxford University, said the move is "not unexpected" because "it's been a pretty awful year for Facebook in terms of its PR" - referencing the criticism the company has faced over "fake news" and its increasing dominance, alongside Google, of the online advertising market. Every user sees a different set of content and ads, ranked and tailored based on their characteristics, what they click and what their friends do.
The move follows declining traffic from the social network to publisher websites throughout 2017.
That will leave businesses that want publicity on Facebook no choice but to spend more on advertising, and as a result prices will climb, predicted Eric Schiffer, chairman of Reputation Management Consultants, which advises corporate brands on social media. "They don't think there are any real cracks in the Facebook story".
Adam Mosseri, Facebook's Head of News Feed, also put out a statement that said the social network would "prioritise posts that spark conversations" and "To do this, we will predict which posts you might want to interact with your friends about, and show these posts higher in feed".
In a post on Thursday (Friday NZ Time), CEO Mark Zuckerberg said community feedback had shown that public content has been "crowding out the personal moments that lead us to connect more with each other". In the company's early years, the news feed was a scrolling update about the personal activities of friends and family members.
Facebook CEO Mark Zuckerberg AP File
"If Facebook downplays "low quality" publishers, as is widely rumored, it could be a net positive for Gizmodo, Jezebel, The Root and our other brands", Narisetti said in an email.
"If this change is as significant as they describe it, news organizations will go out of business or succeed based on a change that they didn't necessarily have input on", Kint said. "It reads as something that will drive up engagement and probably push away policy risk, because they're not allowing news properties to have the same sort of presence in their feeds".
John Ridding, the chief executive of the Financial Times, warned on Friday that the domination of online advertising revenue by search and social media platforms was putting pressure on media firms. The company estimates that 130 million of its users are in such groups. Since then, Facebook took various steps trying to prevent fake news from becoming viral via Facebook. "The publishing industry has been notoriously slow to adapt to the rapid and constant changes brought about by social media platforms", he said. Facebook accounts for about 17 percent of visits, on average, to the digital companies he advises, he said.
Facebook has previously been criticised for algorithms that may have prioritized misleading news and misinformation in people's feeds. "People are frustrated with the Russian Federation revelations and fake news and have taken it into their own hands and stopped engaging".
Admitting that its changes will likely reduce the time people spend on Facebook less was a big deal for the company. And for most, these latest changes may be subtle.
Nearly half of USA adults get at least some of their news from Facebook, according to a recent survey from the Pew Research Center.
Silicon Motion Technology Corporation (SIMO) Analysts See $0.48 EPS
Since August 4, 2017, it had 0 insider purchases, and 2 sales for $3.05 million activity. $2.70 million worth of Citigroup Inc. It worsened, as 4 investors sold PHD shares while 18 reduced holdings. 28 funds opened positions while 21 raised stakes.
Related:
-
Senate passes marijuana legalization bill
Vermont is now the first state to legalize marijuana through the legislative process, rather than via a citizen referendum. Vermont very almost legalized it past year .CNH Industrial NV (CNHI) Position Increased by Ameriprise Financial Inc
Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. The fund owned 85,882 shares of the company's stock after purchasing an additional 73,322 shares during the quarter.National Retail Properties (NNN) Given Daily Media Impact Score of 0.18
On a similar note, the stock is -10.24% below its 50-day moving average, providing a measure of support for short positions. The firm owns interests in 156 producing oil and natural gas wells located in 39 fields in 8 states of the United States. -
Elon Musk once attended a Silicon Valley 'sex party'
Other entrepreneurs including Mary Lou Jepsen and Jason Calacanis have also denied any explicit activity at the party. Biggar and Chang differ in their takes of the night, with the former saying that he had not seen "any sex or drugs".Deadline approaching for primary school applications
Any Nottinghamshire parent who has not applied for a secondary school place for this September should contact 0300 500 8080. The local authority is encouraging parents to apply online, and selecting their preferred choice for their child.DR Horton Inc. (DHI), Continental Resources, Inc. (CLR)
Moreover, Zwj Investment Counsel Inc has 0.1% invested in Intel Corporation (NASDAQ:INTC). (NYSE:DHI) for 295,000 shares. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $287,160. -
Buffington Mohr McNeal Acquires 500 Shares of Amphenol Corporation (APH)
Comerica Bank decreased its stake in Amphenol Corp Cl A (APH) by 5.59% based on its latest 2017Q3 regulatory filing with the SEC. Prudential Public Ltd Company, Illinois-based fund reported 25,100 shares. 156,700 are owned by Virginia Retirement Sys Et Al.Carr lifts Penn State over Nebraska in overtime
Nebraska entered the Bryce Jordan Center shooting just 43 percent from the floor and 36 percent from 3-point range for the season. But trailing by as many as 16 points in the second half, the Huskers were able to rally back and send the game into overtime.Advanced Energy Industries (AEIS) Rating Increased to Buy at Zacks Investment Research
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. After $0.78 actual EPS reported by BB&T Corporation for the previous quarter, Wall Street now forecasts 2.56% EPS growth. -
Seagate Technology PLC (STX) Receives Consensus Rating of "Hold" from Brokerages
Los Angeles Cap Mgmt And Equity Inc holds 0.06% of its portfolio in Seagate Technology plc (NASDAQ: STX ) for 302,049 shares. Pacer Advisors Inc. bought a new position in shares of Seagate Technology in the second quarter worth about $150,000.Analysts See $0.75 EPS for Colgate-Palmolive Company (CL)
Jensen Investment Management Inc.'s holdings in Colgate-Palmolive were worth $8,935,000 as of its most recent filing with the SEC. Weybosset Research & Management LLC boosted its position in shares of Colgate-Palmolive Company by 2.8% in the second quarter.Police chief Phil Gormley complains of misconduct probe 'delays'
He told MSPs the SPA met behind closed doors on November 7 to agree that Mr Gormley could return to work on November 10. He initially stayed on in his post, but that year after a further allegation was made, and has remained off work while.