How would you classify a company that:
distributes news and information to billions of people every month?
is a major source of news and information for a large chunk of those billions of people?
runs ads against that content, generating billions in revenue every quarter?
is paying content creators ranging from the NFL to Insider to make original video programming that streams to mobile devices, computers, and connected set-top boxes?
is funding and producing its own original television shows?
Most would call that a media company. And most would expect that media company to adhere to the standards, safeguards, and rules that all media companies do.
Facebook, which does all of the above, will not concede it’s a media company.
On Thursday, Facebook’s COO told Axios editor Mike Allen that Facebook is not a media company, a classification the company has avoided for years. The renewed questions about the company’s role in the intersection of tech and media come as the debate around fake news and fake Russian ads on the platform heat up. The UK is already considering regulations that would treat Facebook more like a media company, for example.
But Sandberg deflected, pointing to the fact that Facebook is run …read more
Source:: Businessinsider – Technology