Facebook is looking to compete in a market dominated by homeless writers and reporters without platforms, large audiences or staff positions.
The social media giant is preparing to roll out a new feature that will be catered toward giving writers a place to monetize their content and build their audience. While their publishing platform does not have a name, Facebook is currently in the process of looking for sites to partner with that would host their platform, Axios reported.
The platform, which would be operated and merged with Facebook Pages, will allow freelance writers and journalists to publish and monetize their content, make live videos and stories. Writers will also have the option to send newsletters and pursue other revenue-making options, making it ideal for journalists who want to grow an active, engaged audience.
Facebook to Launch Self-Publishing Platform for Writers, Journalists to Monetize Content https://t.co/yeDkbVmmAL
— Variety (@Variety) March 16, 2021
Twitter also entered the publishing game in early January by buying Revue, a site that offers journalists the option to send out newsletters and reach their readers more easily, The Verge reported.
Sites such as Substack and Medium also offer journalists and writers a newsletter-style platform. Substack has appealed to many prominent media figures, including Glenn Greenwald, Rolling Stone contributor Matt Taibbi and Matthew Yglesias, who have opted to leave the hustle and bustle of newsrooms, Vanity Fair reported.
During the coronavirus pandemic, many journalists reportedly found themselves leaving the normal newsrooms to have more flexibility with online platforms, according to Axios. (RELATED: Medium Removes Post Imploring Americans To consider Evidence Over Hysteria On Coronavirus Panic)
“I think many people in the journalism world saw how quickly their business fortunes can change during COVID and decided they would rather run their own business as opposed to be dependent on another businesses’ ebbs and flows,” explained former Buzzfeed reporter, Alex Kantrowitz.