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Why Facebook, Inc. is doing away with Likes… and 2 other things publishers need to know about the company right now

What's New in Publishing 15 Jan 2020 08:17

As with all things, there are two sides to every coin, and that includes the Big F corporation.

Check any reliable source and it’s not uncommon to find Facebook linked to phrases like misinformation, online bullying, and journalism that is of the color yellow. To top it all off: after Cambridge Analytica, it seems that the company may have bitten off more than it can chew in terms of data privacy – which we believe is more than enough cause for concern.

However, as journalists, we cannot neglect the fact that Facebook still maintains a massive influence on how the public consumes news (which isn’t necessarily a bad thing). In fact, according to good ol’ Reuters, Facebook’s products (i.e. Instagram, Messenger, and WhatsApp) reach 84% of the combined sample and 57% for news.

That’s equivalent to saying roughly 1.3 billion Facebook users consume news on a daily basis – and those are now last year’s results.

So, with the year 2020 well underway, what does this tech giant have in store for us publishers? Well, we did a little digging and anticipate at least three potential Facebook-triggered earthquakes:

At this very moment, if every single person on this planet who owns a Facebook account was to Like a picture of your dog or cat or whatever you’re into, you’d have over 2.4 billion Likes!

Now, we’ve all seen (or at least probably heard about) Mark Zuckerberg having to testify to Congress in 2018 after it was reported that 87 million Facebook users had information harvested by Cambridge Analytica. If by chance you haven’t followed up on the story, Netflix’s The Great Hack can bring you up to speed brilliantly

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