Meta Platforms Reallocates Resources as it Focuses on Metaverse and Creators – WSJ
2022.07.19 22:30
Meta Platforms (META) Reallocates Resources as it Focuses on Metaverse and Creators – WSJ
By Sam Boughedda
Facebook owner Meta Platforms (NASDAQ:META) is reportedly reallocating resources from Facebook News and its newsletter platform Bulletin and focusing on the creator economy, according to a Wall Street Journal article on Tuesday.
The report states that Meta senior executive Campbell Brown told employees Meta will be moving engineering and product support away from the products as “those teams heighten their focus on building a more robust Creator economy.”
WSJ sources are said to have told them the decision was made at the product level, not the team Brown is part of.
Brown is said to have thanked employees for “the incredible, impactful and challenging work this Partnerships team has done,” adding that it was a “labor of love and I know it’s hard to see these products put on the backburner.”
In addition, a Meta spokesperson told the WSJ that the company often assesses its products to ensure they are “focused on the most meaningful experiences for people on Facebook.”
Facebook previously paid publishers who participated in its news program, signing deals with companies such as The Wall Street Journal and The New York Times. However, they have reportedly begun signaling that renewing the deals is not a priority as they approach their expiration dates.
The WSJ added that the move by Meta is part of a wider movement within the company to focus on the metaverse and short-form video content.
