This article discusses the implications of algorithms on social media. A prominent example that has been used to show this is the Facebook algorithm, in which the online space that we spend more time in shows us a version of the world that isn’t quite balanced or true due to the fact that the algorithms learn our habits and preferences. As a result, our social feeds are flooded with content that is hardly balanced. Audiences are encouraged to simply unfollow newsbrands that we wouldn’t get on with, and so the news headlines we see online are mostly in agreement with each other. This however benefits the social networking site, as these functions prevent cluttering and provide tech-savvy businesses with the apparatus to reach potential customers that might otherwise pass them by.
I agree with the fact that algorithms do have implications due to the fact that they provide their audiences with an unbalanced perception of the world and news, however there are some benefits of tailor-made news, as this allows audiences to be comfortable with the platform they are on while also benefiting the site and providing adverts revenue.
This articles discusses the latest statistics on newsbrand revenue, and how publishers have had a major impact on the economy. Despite the challenging era of falling newspaper profitability due to the declining advertising revenues, the report finds that the news media industry generated £4.8bn revenue through circulation and advertising over the course of 2015. According to the report, publishers are by far the biggest investors in original news content, accounting for 58% of the total investment in news production. However, future contributions rest on their ability to monetise newsbrand content, particularly on digital platforms, in order to fund newsgathering. Agenda-setting newspaper journalism, such as the Guardian’s Panama Papers revelations and the Sunday Times’s investigation into Fifa have been a positive aspect of these newspaper brands and have dominated in the news, as a result reeling in greater audiences.
- The sector also supported an estimated 87,500 UK jobs; invested £97m in digital services; and added value across the supply chain because the average publisher dealt with nearly 2,600 suppliers.
- 90% of the total spend with suppliers by news media organisations remained within the UK, compared to the average of 77% across the economy.
I believe that this is good news for the media industry, in particular newspapers as it hints at the possible survival of traditional forms of media. However, it does highlight the necessity of third-party investors to keep up these forms of media.
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