Facebook is shifting its focus and resources from news and newsletters toward improving the creator economy, a company memo stated.
According to the document published by The Wall Street Journal on Tuesday, Facebook will shift its engineering and product support for its news tab and Bulletin toward the creator economy. The creator economy, as it is dubbed by the Journal, points toward creators of short videos that can compete with those on platforms such as TikTok.
Bulletin, launched in 2021, is Facebook's subscription-based service where freelance writers can write and publish stories on the social media platform. The company's news tab, launched in 2019, is a curated list of stories.
"For a lot of us," said Campbell Brown, a senior executive at the company, "this was a labor of love and I know it's hard to see these products put on the back burner."
"We remain committed to the success of creators, and are doing even more to ensure they can find audiences on Facebook and grow engaged communities there."
Meta, the company that owns Facebook, told The Hill it evaluates products to ensure "meaningful experiences" are brought to its users.
"We regularly evaluate the products we offer to ensure we're focused on the most meaningful experiences for people on Facebook and the future of our business. We remain committed to the success of creators, and are doing even more to ensure they can find audiences on Facebook and grow engaged communities there," a Meta spokesperson said.
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