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- In pre-market tradings, Facebook’s stock has gone down by about 4%.
- The company announced that it’s making tweaks to its most important product, the News Feed, which will prioritise posts shared by friends over those of brands and media outlets.
- Some publishers have expressed concern over this change, as the Feed is a massive source of traffic for them.
Facebook’s stock dropped around 4% in premarket trading on January 12 following its announcement that it would make changes to its core news feed product.
Facebook said it would tweak its news feed to prioritise content from users’ friends rather than pages they like. The updated feed will focus on what friends share, and promote content that gets the most interactions over passive posts such as those from publishers and brands.
“We feel a responsibility to make sure our services aren’t just fun to use, but also good for people’s well-being,” CEO Mark Zuckerberg said in a post Thursday on his Facebook page.
The New York Times reported on the changes on Thursday; Facebook confirmed them in Zuckerberg’s post and in a blog post titled “Bringing People Closer Together” by Adam Mosseri, who heads the company’s News Feed.
Facebook’s revamping of the Feed is intended to ensure more “meaningful interaction” on the social network, Zuckerberg said in his post. The company wants to encourage users to have more conversations with people they know rather than passively consume articles or videos.
The news comes a week after Zuckerberg announced that his New Year’s resolution for 2018 would be to focus on systemic issues with Facebook, including abuse and hacking.
“The world feels anxious and divided, and Facebook has a lot of work to do – whether it’s protecting our community from abuse and hate, defending against interference by nation states, or making sure that time spent on Facebook is time well spent,” Zuckerberg wrote.
You can read his full post below.