by Graham Pierrepoint
Facebook is no stranger to change – it’s introduced all manner of new features and twists upon old standards over the years – and anyone looking at their wall and news feed today will hardly recognize it from only a few years prior. While the days of people clamoring for ‘Old Facebook’ appear to be more or less over, changes set to come into effect as a result of announcements this week could land the big F in a fair bit of financial stress – if reports are to be believed.
Mark Zuckerberg and Facebook announced this week that they would be effectively re-tooling the news feed so that users can now see more stories and news from their genuine connections – i.e. friends and family – ahead of brands, products, companies and services. This effectively means that many businesses who have been building up a sturdy profile on Facebook could now see their posts and reach extensively shortened – and while it may be good news for the average user who may be tired of seeing targeted ads and brand recommendations, it could spell significant headaches for those firms still looking to increase their impact in the year ahead.
Watch: Facebook Rolling Out Major Changes to News Feed ▶
While Facebook is looking to make itself ‘meaningful’ again, their share price says it could be heading towards a concerning dip in value - at least financially.
It’s being reported that the social network’s share value dropped by 4% following the revelation, with more stories following that Zuckerberg could lose up to $3.3 billion of his net worth as a result of such changes going ahead – not good news at all for a network that could be set to lose $23 billion in total from its value as a result of pushing business reach back. The move could mean that Facebook finds itself effectively pushed back by three months in terms of financial progress – meaning that while it may be trying to make progress at least in terms of its approach with users, it could be taking more than a few steps back if it continues to cut down brand reach via the news feed.
Watch: Mark Zuckerberg Lost $3.3 Billion From Stock Fall After Announcing A Potential Facebook Change ▶
Whether you use Facebook to connect with friends and family or are genuinely interested in brands, products and businesses and what they do online, the news means that – regardless – more change is coming to the network in the next few months.