How to keep local stories at the top of your Facebook newsfeed

Facebook wants to show users more local news

Chief Executive said on Monday the social media website would focus on promoting local news in its latest update. In 2016, ad revenue for the newspaper industry, was about $18 billion, a decrease of 10 percent compared to the previous year, according to the center's annual report about the state of the news media. Zuckerberg disclosed on Wednesday that changes made last quarter reduced time spent on the platform by "roughly 50 million hours every day". Worth noting, though, is that the company added 32 million daily users over the quarter, its lowest quarter-over-quarter jump in two years.

That announcement seemed to shake investors, who sent Facebook's stock down 3.7% in after-hours trading.

In the third quarter, Facebook grew its ad sales by 47 percent to about $10 billion compared to the same period previous year.

"Already last quarter, we made changes to show fewer viral videos to make sure people's time is well spent".

RBC Capital Markets analyst Mark Mahaney said his most recent survey of Internet users found a slightly more negative bias towards expected time spent on Facebook. Mobile advertising revenue now makes up 89 percent of overall ad revenue, up from 84 percent a year prior.

It was another busy three months for the social network.

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So, even as Facebook needs to convince Wall Street of the company's healthy growth prospects, Zuckerberg is also trying to diffuse the growing concerns about Facebook's impact on society. According to the Facebook CEO, prioritizing local news will help promote civic engagement and create constructive dialogue on issues less divisive than those usually discussed in national or global media.

Earlier this month, Zuckerberg said his personal goal for 2018 is "fixing" Facebook's many problems.

Looking to pacify its massive audience - and keep its ad revenue rolling in - Facebook launched a tool allowing users to check if they followed Kremlin-funded pages.

Read: Is Facebook into kids' mind control now?

This overload, as he estimates, is due to video material and other content that has gained large dimensions in Facebook over the past 2 years. Nevertheless, it's been surprisingly popular with a younger demo, according to Morgan Stanley, with 40 percent of users between 16-34 checking out Watch content on a daily basis.

The company will hold a conference call to discuss its earnings at 5 p.m. PT.

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