📰 𝑭𝒂𝒓𝒆𝒘𝒆𝒍𝒍 𝒕𝒐 𝑭𝒂𝒄𝒆𝒃𝒐𝒐𝒌 𝑵𝒆𝒘𝒔: 𝑨 𝑺𝒉𝒊𝒇𝒕 𝒊𝒏 Meta 𝑺𝒕𝒓𝒂𝒕𝒆𝒈𝒚 📰 In 2019, Facebook's News tab made headlines with multi-million dollar content deals for publishers, aiming to support journalism and democracy. Fast forward to April 2024, Meta announces the sunset of Facebook News in the US and Australia, ceasing new commercial news deals and products. This move follows Meta's 2022 pivot towards the Creator economy and the departure of Campbell Brown, former head of news partnerships. While Facebook News initially aimed to enhance users' News Feeds, the company now emphasizes that news constitutes less than 3% of the Facebook experience globally. Meta encourages publishers to redirect their efforts by posting links on their pages, leveraging products like Reels and ads to drive traffic to their own websites, signaling a departure from direct financial support to news outlets. In the US, the end of licensing deals is not new, having dropped them two years ago. However, in Australia, this move means the conclusion of annual payments totaling $70 million to outlets like Sky News Australia, News Corp, Seven, Nine, and The Guardian. These deals, formed under Australia's News Media and Digital Platforms Mandatory Bargaining Code, are set to expire after a three-year run. This decision comes after a power struggle in 2021, where Australia amended its laws, leading to a temporary news ban by Facebook. The platform similarly blocked news in Canada last year over a comparable legislative dispute. As Facebook News bids adieu, Meta reorients its focus, acknowledging the evolving landscape and user preferences. The future holds a shift towards short-form video content and new opportunities for publishers to engage audiences beyond the Facebook platform. #Meta #FacebookNews #DigitalTransformation #News #Change #Facebook Source:https://lnkd.in/gtymRiTC