Facebook shares are trading over 5% lower in pre-market activity, ahead of the US market open Friday. The declines follows an announcement from Mark Zuckerberg stating the social media platform will make business and brand posts on the news feed less prominent.
By 1410 BST, Facebook shares were 5.31% lower in pre-market activity. The Facebook stock also fell Thursday. However, if the pre-market drop is reflected in the opening move, Facebook is poised to see its value slump.
Zuckerberg shifts focus to well-being
Following Facebook CEO Zuckerberg’s goals for 2018 to ‘fix Facebook’, he announced he was changing the way the news feed shows posts to users. Instead of having a large amount business and brand related posts, the social media site will now ensure more personal posts are visible.
“We've gotten feedback from our community that public content -- posts from businesses, brands and media -- is crowding out the personal moments that lead us to connect more with each other,” Zuckerberg said on his Facebook page.
“We feel a responsibility to make sure our services aren’t just fun to use, but also good for people's well-being. So we've studied this trend carefully…research shows that when we use social media to connect with people we care about, it can be good for our well-being,” Zuckerberg’s post states.
Zuckerberg ends his post by admitting that some measure of engagement will fall. However, he adds he expects the time spent on Facebook to “be more valuable.”
Public, community-related posts to be promoted
The move isn’t expected to affect advertising on the site. And, while it does suggest that more personal posts from friends will be considered ‘top news’ on users’ feeds, Zuckerberg’s post also details that community related posts will feature more highly.
“As we roll this out, you'll see less public content like posts from businesses, brands, and media,” Zuckerberg said. “And the public content you see more will be held to the same standard -- it should encourage meaningful interactions between people.”