From Business Insider:
The media industry's worst fears about Facebook's huge algorithm tweak are coming true.
The women-focused publisher LittleThings is shutting its doors, in large part because of Facebook's recent move, the company's CEO, Joe Speiser, told Business Insider.
LittleThings' demise was first reported by Digiday's Lucia Moses.
LittleThings focused on a mix of feel-good news and service content along the lines of Valentine's Day dinner recipes. The company also produced a regular slate of live video content on Facebook, even featuring celebrity guests.
Since launching in 2014, LittleThings had amassed over 12 million Facebook followers, and its videos regularly generated thousands, if not millions, of views.
But Speiser said the recent algorithm shift, which Facebook has said was designed to tamp down content that is consumed passively — and would instead emphasize posts from people's friends and family — took out roughly 75% of LittleThings' organic traffic while hammering its profit margins.
Back in 2016, Speiser told The Wall Street Journal that he was highly optimistic about Facebook and its desire to help web publishers.
Now, as one source close to the company put it: "Facebook is the destroyer of worlds."
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