Published: Tue, February 06, 2018
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Facebook Inc Will Let Users Decide What News Sources Are Trustworthy

Facebook Inc Will Let Users Decide What News Sources Are Trustworthy

Through the post, he makes it clear that Facebook will push for connecting more people in a more productive way instead of attracting them to stay for longer periods of time on the platform going through "passive content".

Despite the rosy numbers and a robust projection, Facebook was hard pressed to assure investors that changes made to the site's home page would not lead to decreased engagement, fewer new users and hence less eyeballs for advertisers. CEO Mark Zuckerberg said in a statement, "In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day".

He continued: "By focusing on meaningful connections, our community and business will be stronger over the long term".

Facebook also reported it's first-ever decline in daily users in the US and Canada.

"Bringing us closer together with our family and friends matters, and 14 years in I'm proud of what we do and grateful to be a part of something so meaningful". DAUs in the United States and Canada declined from 185 million in the third quarter to 184 million in the period, the company also reported. The only area and time it lost audience anywhere.

Shares of Facebook were up 2.4 percent to $191.52 at 6:12 NY on Thursday, after closing at $186.89. The number continues to grow, without any hint of reaching a saturation point yet. Just from 2016 - 2017, daily "social media usage of global internet users amounted to 135 minutes per day, up from 126 daily minutes", Statista notes - and experts think there will be more total social media usage in future years.

"I definitely see my social circle abandoning Facebook as well", Felder said.

Recent challenges: Facebook has had its share of controversy, such as the revelation that Russian Federation used the site to spread fake news, and its Facebook Live feature broadcasting violent videos.

Facebook is by far the leading social networking site in the world. He also lays stress on the fact that videos are the next big thing for Facebook's growth as a platform and they will be used in ways that help people connect with their friends through new experiences.

In 2016, Facebook added emojis. "This may also be a strategy by Facebook to sell more paid ads with advanced audience targeting capabilities to businesses". It is also updating how its News Feed delivers content from trusted sources. In the company's fourth-quarter 2017 earnings, the report showed the time spent on the network that drives the revenue is down by an estimated 50 million hours per day.

The statistics portray a bad news for the company's business, but Zuckerberg is pretty happy about it. If Facebook can explain properly the "greater good" of its changes and deliver positive results, the market may follow suit. "Social media enables people to spread information faster than ever before, and if we don't specifically tackle these problems, then we end up amplifying them". Facebook has the largest data of user behavior than any company in history.

We will see how the changes play out in the coming months.

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