Facebook is on its way to launch a brand new “News” tab that is supposed to provide stories across a number of different news channels, and some of these will be reimbursed for the content they broadcast to the service.
The decision is going to place the social media leader back into the list of news and media platforms after it was discerned otherwise last year. This move is also viewed as a way to make the technology giants shell bucks to show their content to Facebook users. The model can be similar to that of advertising.
The tab is also anticipated to make Facebook a huge competition to the services that specialize in news aggregation such as Google, the Silicon Valley competitor, Apple, etc.
The Facebook CEO Mark Zuckerberg made a testimony in front of the House Financial Services Committee about their cryptocurrency project Libra a while ago. Hence, Facebook’s service is supposed to involve a certain amount of human curation undertaken by a group of editorial journalists, selecting some top stories to show. But primarily the News tab is to be based on computer algorithms which strive to fit the user’s inclination with the services ranging from politics report, health, technology, sports, entertainment, as well as some other prospects.
Facebook used to be one of the prominent news delivering platforms until early 2018 where it changed its mechanism of directing some meaningful updates of family members as well as friends to the News Feeds of the users prior to the controversy regarding the bulk of inaccurate, misleading, and dubious news reports as well as allegations regarding Facebook’s favor for liberal perception.
Facebook also intends to provide local news streams across the country’s 10 biggest markets, with an eventual repository of local reports inside the new News tab, according to a source of the company, who insisted on anonymity to disclose the confidential details.
Facebook did not say anything regarding the news firms that are going to participate and the time of the launch but testified the cultivation plans in a generic way.
Working with the news industry to get Facebook’s News tab right is our goal and focus this year. We are getting tremendous partner feedback on the product and looking forward to launching this very soon. I believe we can provide people on Facebook a better news experience,
said Campbell Brown, Facebook’s Vice President, Global news partnerships, and a former journalist from CNN.
We’ve got to have this for the whole news ecosystem. So while it’s a start, and a good start, it’s not a comprehensive solution,
said David Chavern, president & chief executive of the News Media Alliance.
Ben Smith, editor in chief of Buzzfeed, said that “There’s a really healthy trend where virtually every major platform — with the notable exception of Google — is working seriously on how to compensate news publishers for the value we’re adding to their service.” He, however, declined to state if his news firm was a member of Facebook’s news tab.