Facebook’s rise as news source hits publishers’ revenues

facebookPeople are increasingly heading to social media such as Facebook for news, making it more difficult for publishers to attract and make money from readers, according to an influential new report.

The annual report on digital news from the Reuters Institute for the Study of Journalism highlights the inexorable rise of sites such as Facebook, YouTube and Twitter, the rapid transition to mobile and a consumer backlash against digital ads as undermining traditional publishers’ business models.

RISJ’s 26-country study finds that more than 50% of all web users use social media for news each week, with increasing numbers saying it is their main source. While many publishers have linked with Facebook and Google to distribute their news, the report warns that social media sites are becoming destinations in their own right.

For the full story read The Guardian and the FT