Facebook Intensifies TikTok War With Latest Strategy - Read To Know
- Meta Platforms Inc's (NASDAQ: META) Facebook migrated resources from its Facebook News tab and newsletter platform Bulletin, focusing more on the creator economy, the Wall Street Journal reports based on senior executive Campbell Brown.
- Migrating resources from News and Bulletin marks Facebook's broader shift toward the metaverse and short-form video content creators that can compete with ByteDance Ltd's TikTok.
- Brown said the company would shift engineering and product support away from the two products as "those teams heighten their focus on building a more robust Creator economy."
- Also Read: Credit Suisse Continues To See Sharp Upside In Meta, Alphabet Despite Double-Digit Price Target Cuts
- Bulletin, unveiled in June 2021, is a subscription platform that competes with Substack and aims to support independent writers.
- "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," Brown added.
- Facebook launched Facebook News in 2019 when Facebook and Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google grabbed the lion's share of the digital ad market.
- Facebook showcased Bulletin in 2021 to capitalize on the newsletter boom.
- The stepping up of global regulation aiming to require technology platforms to pay for news led to Facebook's shift away from its paid news product.
- Facebook previously shared plans of foregoing commission on revenue earned by creators via its platform till 2023.
- Recently a TikTok chief and an analyst reasoned why Facebook's attempts to emulate the former would be futile.
- In 2022, TikTok looks to ramp from $4 billion to upwards of $12 billion in ad revenue (ex-China) ahead of plan based on Barclays' channel checks.
- Price Action: META shares closed higher by 5.11% at $175.78 on Tuesday.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Briefs TikTok ByteDanceNews Tech Media
