Should Social and Media Split Up?
In advance of a major redesign of Snapchat, Evan Speigel, CEO of Snap, published what some are calling a “blistering” op-ed on Axios about social media. More specifically, Spiegel takes on “social media fueled fake news” and says algorithms that serve up content based on what your friends like is the problem. He writes, “The personalized newsfeed revolutionized the way people share and consume content. But let’s be honest: this came at a huge cost to facts, our minds and the entire media industry.”
Snapchat is expected to reveal a big redesign next week (watch this space for details) following disappointing earnings. Spiegel implies that the way forward will separate “the social from the media” and that his platform will follow more of a Netflix model – users will see branded content based on their behaviors instead of that of their friends. As a result, Spiegel says, “This will provide a better way for publishers to distribute and monetize their Stories, and a more personal way for friends to communicate and find the content they want to watch.”
We’ll be watching and in the meantime we’re enjoying the new filters the company recently added.