How reliable is Facebook for Media firms? Just Find Out…
Facebook recently launched a project on trial basis called as “Instant Articles” partnering nine news organizations namely the famous, The New York Times, The Guardian, National Geographic, Buzzfeed and etc. As per the deal, the entire news relayed from the partners will appear inside the Facebook mobile App, allowing the users to access the content. This will further put an end to the traditional practice of the media firms posting the news item on the website by providing a link to it.
What it appears to be a straightforward approach for exchange of information and content. Facebook will able to encash from the media firms by advertising the content (Firms need to keep 70% of spending aside) and will help to engage vast presence of its users (touching 1.4 billion or more) around the globe. Furthermore, adds the required visitor traffic for the media firms from this Social Media Platform. It’s probably a win-win situation for both Media firms as well as Facebook.
There’s no big secret the way Facebook is trying to promote its business by partnering with Media Firms, it helps in mutual exchange of business to business, which drives Facebook to offer publishers to make their content appealing and find wider audience. But, on the flipside, this may even lead to adverse impact due to the sheer size and influence of Facebook it exerts on. The reason for this theory is plain simple, opportunities allows Facebook to be “the Jack of all Trades, master of none”.
On the other hand, The New York Times has chosen Facebook to promote the content because they were drastically falling behind in mobile technology. Several Tech Analysts points out, the advantage of Facebook, it has the right technology in place to load any sort of news or content without a fuss. On the contrary to the news posted by the media firms, which take terrible time to load and looks appalling. Facebook can even target the audience with what media firms aren’t equipped to do so. This is how the Social Media Major offer is so delightful and publishers get to keep some or all of the ad revenue with the users getting the required content.
The Truth: A part of this deal will benefit Facebook more in the long run than the Media firms, Sounds shocking!! Isn’t it? Because it takes away all the revenue generated from and even doesn’t care the partial revenues generated from the ads that contains news in them. Facebook is aiming to strengthen and deepen ties with its users. In that sense, Facebook will own a solid base for “being the default platform” for news hosting or sharing, where billions of users sign in searching for news. In other words, it will remain & own the sown land and those who farms in specific part of the land remains irrelevant.
There’s a mere anxiety in the media circles about what will happen to their businesses if the deal is sealed, taking a cue from the previously done similar deals that have been a center of pandemonium for the businesses like what has happened to a gaming company known as Zinga, who’s games very popularized on Facebook, loosing it’s fame of multi-billion dollar company to millions now. Similarly, Media apps like “The Guardian” and “Washington Post” have thrown opportunities to the users to read articles present inside an app within the Facebook, allowing millions of users signed up to have a glance. Facebook, in the meantime all of sudden, changed the algorithm so that these apps doesn’t show up articles frequently, tumbling the readership hits. The risk doesn’t lie with Facebook that try to tarnish the fame in name of journalism, but troubles the relationship between the media houses and the readers and then completely destroys the business model accidentally, while it is aiming for other things.
Arguably several News or Media houses notifies the importance of Facebook, which has got the platform, reach, users and something to offer the advertisers that most of the News agencies can’t replicate, proved to be inflexible and incompetent. On an average, A user spend less than 20 minutes a month on the media websites contrast to Facebook average of more than 40 min a day and some apps aren’t offered for free, leaving users who are not willing to pay for it.
Future of news or media content will be ruled by Facebook, a for-profit company that has shown no evidence that really cares about Journalism, will become a trusted news for millions of users, rather than the publication that originally produce the content. Ultimately, benefits both the users and the Facebook.
Learn more about B2B Marketing: www.ochre-media.com
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