Facebook-parent company Meta is shutting down its Bulletin newsletter. Available to writers only on an invite basis, Bulletin allows readers to subscribe to newsletters from contributors like Malala Yousafzai, Malcolm Gladwell, and Tan France.
“Bulletin has allowed us to learn about the relationship between Creators and their audiences and how to better support them in building their community on Facebook. While this off-platform product itself is ending, we remain committed to supporting these and other Creators’ success and growth on our platform,” the Meta spokesperson said.
Meta says that it will refocus the resources from Bulletin to the discovery algorithm so that it can compete with TikTok, which the company sees as its biggest competitor in the social media space. As per an internal memo accessed by The Verge earlier this year, Tom Alison, Meta executive in charge of Facebook, noted that the platform plans to prioritize recommending posts rather than showing content from accounts people follow. This is what the TikTok feed looks like.
The memo also suggested that Messenger and Facebook split up to work as separate apps and will be brought back together. The executives at Meta are hoping that these changes, along with an emphasis on Reels, will not only give tough competition to TikTok but also lure the younger generation back to Facebook.
The development comes a few days after a media report claimed that Meta CEO Mark Zuckerberg informed during an internal call to employees about freezing hiring in the company. He also said the company will “steadily reduce headcount growth over the next year.” The social media company is looking to cut costs amid the global economic slump, and it is said to be planning to bring down costs by at least 10% in the coming months.