Publishers on their Facebook relationship: It’s complicated
With Facebook’s 1.7 billion users, it’s no wonder media companies are tailoring their editorial strategies to give the social giant what it wants. But that comes at a cost. Facebook can dial down the traffic it’s sending publishers at any time, and it’s also competing with them for finite ad dollars. So on Day One of the Digiday Publishing Summit in Key Biscayne, Florida, we asked a handful of publishers: Is Facebook friend or foe? Here’s what they said.
Paul Rossi, president, The Economist
I think it’s friend, but not all friends are created equal. One of the difficulties is, a lot of media companies feel Facebook has some moral obligation towards media, and it does not. You have to understand where they make their money, and don’t be surprised if that isn’t compatible with how media companies make money. I think of it more as a PR relationship. There’s no moral obligation to support media.
Melissa Bell, publisher, Vox Media
I don’t think it’s either. It might be someone you want to have a beer with. But at the end of the day, it’s a business partnership.
Pete Spande, CRO, Business Insider
I’m a big fan of the term “frenemy.” For my business, there’s a lot more to be gained from Facebook. We’ve seen a lot of engagement and seen a way to monetize there. Even though the algorithm has affected everybody, it’s a way to stay in contact with our audience. The frenemy part is, at the end of the day, they want 100 percent of the ad budget, and at some point, we’re competing for the same budget. So you have to manage the relationship.
Cory Haik, chief strategy officer, Mic
Facebook is trying to run a business. Publishers thinking they can build a whole business on Facebook is not the right approach, and publishers that turn up their nose at the idea, that’s not the right approach. Instant Articles, we’ll go all in with it. What I’ve found over the past year is, Mic also has to grow its business and we have to have a funnel to get people back to our site, and that’s hard to do in a walled garden environment.
Keith Hernandez, president, Slate
They’re a friend, but sometimes they have to return my texts. When you make editorial decisions about what goes on your site, you are a media company. When they talk about eliminating clickbait, that helps us. It’s about making sure well researched journalism gets out there. When you say it’s just an algorithm, it kind of dissociates them from what they are. It seems disingenuous. The world’s hardest problems can’t be solved by an algorithm.
-
The case for and against publishers continuing holiday-specific commerce coverage post-Black Friday weekend
Black Friday is over but publishers are up in the air about whether or not to continue covering holiday sales in the lead up to the holidays.
-
Why PMG’s Nike win doesn’t seem all that unusual for the indie media agency
The Texas-based independent agency continues to grow its roster of clients after landing Nike's media AOR business for North America.
-
Media Briefing: Publishers see a bump in commerce sales during Black Friday weekend despite economic downturn
Publishers' commerce businesses show positive signs that consumers are still shopping despite the economic downturn.
-
SponsoredPublishers are adapting advertising strategies for a privacy-first world
Tina Iannacchino, senior publisher director, Seedtag So much of the attention around the death of third-party cookies and its impact on the digital advertising industry is focused on the implications for brands and consumers, which is far from the complete picture. The digital publishing industry in the U.S. is massive and set to be shaken […]
-
CNBC to test increases on its subscription prices next year
After seeing continued subscriber growth to its two products, CNBC will begin testing price increases next year.
-
How Apartment Therapy’s Riva Syrop is pivoting its events business around the economic climate
Apartment Therapy's event strategy closely revolves around its commerce business to appease both advertisers and consumers.
