Meta CEO Mark Zuckerberg is unmoved by the public backlash over the recent changes to the photo sharing site. He said the photo-sharing app will show more content by the end of next year in order to make more money.
In an earnings call on Wednesday, one day after Adam Mosseri posted a reel to try to quell the online backlash from the app's users, Zuckerberg explained that social feeds across the company's apps would shift from being driven "primarily by people and accounts you follow"
According to the Meta CEO, by the end of 2023, he expects about 30% of users to have at least one recommendation from someone they don't follow.
"Social content from people you know is going to remain an important part of the experience and some of our most differentiated content, but increasingly we'll also be able to supplement that with other interesting content from across our networks"
The sudden abundance of Reels, which many have criticized for being random, not catered to their interests, or reposted from TikTok, is one of the clearest examples of this shift. Texts, images, links, group content, and more are included in the recommended content spectrum according to the founder of Facebook. Although you might be annoyed by the random reels, they are only the beginning.
Meta is focused on building a recommendation system for all of these types of content.
There are many reasons why Meta wants to build adiscovery engine and shake up its platforms. It is scared of TikTok, which has turned its recommendation system into an art. One of the things Meta is best at is copying features from other apps. That tactic doesn't seem to have worked this time, as the "Make IG Again" movement supported the shows.
There is a money issue. Meta reported its first ever revenue decline as a public company on Wednesday, losing 1% in revenue and 36% in profit. In addition to these financial hits, Meta is also suffering from the same reduced demand in digital advertising affecting peers such as GOOGLE, TWITTER, and SNIP. The weak demand for advertising is expected to persist in the current quarter.
Meta is searching for a golden goose egg. It thinks it has found it according to the man. In the last quarter, Meta had seen a more than 30% increase in the amount of time users spent engaging with Reels on social media. Advances in the company's artificial intelligence recommendation models drove the increase.
Engagement and the quality of our feeds are increased by the additional content that our artificial intelligence finds. This should increase our business opportunity since we already monetize most of these formats.
All Rights Reserved © 2024
